Pioneer Diversified High Income Trust (AMEX: HNW) Distribution Notice

BOSTON--(Business Wire)--
Pioneer Diversified High Income Trust (AMEX: HNW) today announced
the declaration of its monthly distribution for August 2008. The
closing market price, annualized distribution rate and NAV
distribution rate are based on data as of August 4, 2008.

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Distribution per Common Share: $0.2200

Ex Date: August 13, 2008
Record Date: August 15, 2008
Payable Date: August 29, 2008
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FUND Distribution Market Market Price NAV NAV
Rate Price Distribution Distribution
Rate Rate

Pioneer
Diversified High
Income Trust $0.2200 $18.89 13.98% $21.19 12.46%
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The August distribution represents an 11.1%, or $0.022 per share,
increase over the July distribution of $0.1980 per share. The August
distribution is the first declared under a new level distribution
policy approved by the fund's Board of Trustees, whereby the fund
plans to pay a fixed monthly distribution to common shareholders of
$0.2200 per share. The fund's level distribution policy is subject to
regular review by the Trustees to determine whether it continues to be
in the best interests of the fund and its shareholders. There can be
no assurance that the level distribution policy will be maintained in
the future or maintained at its current level.

At this time, the fund believes that a portion of this
distribution may include a return of capital, in addition to net
investment income. Further information on the composition of the
distribution will be made available on the payment date and will be
available at www.pioneerinvestments.com. The final determination of
tax characteristics of the fund's distributions will occur after the
end of the year, at which time it will be reported to shareholders.

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Shareholders Inquiries: 800-225-6292
Financial Advisor Inquiries: 800-622-9876
Media Inquiries: Geoff Smith
617-422-4727
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Keep in mind, dividends are not guaranteed. Closed end funds,
unlike open-end funds, are not continuously offered. There is a
one-time public offering and once issued, shares of closed-end funds
are bought and sold in the open market through a stock exchange and
frequently trade at prices lower than their net asset values. Net
Asset Value (NAV) is total assets less total liabilities divided by
the number of common shares outstanding. For performance data on
Pioneer's closed-end funds, please call 800-225-6292 or visit our
closed-end pricing page.

(C)2008 Pioneer Investment Management, Inc.

Member of the UniCredit Banking Group, Register of Banking Groups

Pioneer Investment Management, Inc.
Geoff Smith, 617-422-4727

Copyright Business Wire 2008