/C O R R E C T I O N -- Diamond Hill Financial Trends Fund, Inc./

    Declaration Date:             August 20, 2008
    Record Date:                  August 29, 2008
    Payable Date:                 September 5, 2008

    The complete, corrected release follows:


       Diamond Hill Financial Trends Fund, Inc. Announces Distribution

COLUMBUS, Ohio, Aug. 20 /PRNewswire-FirstCall/ -- Diamond Hill Financial Trends Fund, Inc. (Nasdaq: DHFT) announced today that the fund will pay an income dividend and capital gain distribution as follows:

    Declaration Date:             August 20, 2008
    Record Date:                  August 29, 2008
    Payable Date:                 September 5, 2008

    Source of Distribution:       Per Share
    Dividend Income:              $0.00350
    Short-Term Capital Gain:      $0.06666
    Long-Term Capital Gain:       $0.25516
    Total Distribution:           $0.32181

Mr. Frank Golden, the Fund's chairman, stated, "The Board of Directors has been pleased with the commitment of Diamond Hill Capital Management, Inc., the Fund's advisor, and although the financial sector has seen turmoil in recent months, we believe that the Advisor's long-term approach positions the Fund well for any recovery in the financial sector." Mr. Golden also stated, "as a result of the market down-turn, the Fund's unrealized gains virtually have been eliminated, which may have the effect of reducing the potential tax liability to shareholders."

Mr. Christopher Bingaman, CFA, the Fund's portfolio manager, stated, "The current market conditions have provided many buying opportunities of companies that we believe are trading below our estimate of their intrinsic value. We remain optimistic regarding the long-term investment outlook for financial stocks."

About the Fund:

Diamond Hill Financial Trends Fund, Inc. is a diversified, closed-end fund. The Fund seeks long-term capital appreciation with current income as a secondary objective by investing at least 80% of its assets in stocks of U.S. financial services companies of any size.

About Diamond Hill:

Diamond Hill provides investment management services to institutions and financial intermediaries seeking to preserve and build capital. The firm currently manages mutual funds, separate accounts and private investment funds. For more information on Diamond Hill, visit www.diamond-hill.com.

SOURCE Diamond Hill Financial Trends Fund, Inc.

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