First Asset

First Asset
First Asset Yield Opportunity Trust
TSX : FAY.UN
TSX : FAY.U

First Asset Yield Opportunity Trust
Global 45 Split Corp. - Class A Shares
TSX : GFV

Global 45 Split Corp. - Class A Shares
Global 45 Split Corp. - Preferred Shares
TSX : GFV.PR.A

Global 45 Split Corp. - Preferred Shares
First Asset REIT Income Fund
TSX : RIT.UN

First Asset REIT Income Fund
First Asset Income & Growth Fund
TSX : IGF.UN

First Asset Income & Growth Fund
First Asset Pipes & Power Income Fund
TSX : EWP.UN

First Asset Pipes & Power Income Fund
First Asset/BlackRock North American Dividend Achievers(TM) Trust
TSX : BDA.UN

First Asset/BlackRock North American Dividend Achievers(TM) Trust
Split REIT Opportunity Trust - Capital Units
TSX : SOT.UN

Split REIT Opportunity Trust - Capital Units
Split REIT Opportunity Trust - Preferred Securities
TSX : SOT.PR.A

Split REIT Opportunity Trust - Preferred Securities
Utility Split Trust - Capital Units
TSX : UST.UN

Utility Split Trust - Capital Units
Utility Split Trust - Preferred Securities
TSX : UST.PR.A

Utility Split Trust - Preferred Securities
First Asset Diversified Convertible Debenture Fund
TSX : DCD.UN

First Asset Diversified Convertible Debenture Fund
First Asset Global Infrastructure Fund
TSX : FAI.UN

First Asset Global Infrastructure Fund

January 04, 2008 17:00 ET

First Asset Funds Confirms Distributions for December, 2007

TORONTO, ONTARIO--(Marketwire - Jan. 4, 2008) - First Asset Funds Inc. wishes to confirm the amounts of the distributions previously announced on December 18, 2007. The distributions in Part I of the table below will be paid in cash on or before January 15, 2008 to unitholders of record on December 31, 2007. The distributions in Part II of the table below will be paid by the issuance of securities of the funds in question, and immediately thereafter, the issued and outstanding capital of each fund will be consolidated such that the number of issued and outstanding securities of each fund does not change. These distributions will be paid in securities on or before January 15, 2008 to unitholders of record on December 31, 2007.



Part I - Distributions To Be Paid in Cash

---------------------------------------------------------------------------
Name TSX Previously Confirmed
Symbol Estimated Distribution
Distribution Amount
Amount (per unit)
(per unit)
---------------------------------------------------------------------------
First Asset Yield Opportunity Trust -
Series A FAY.UN $ 0.1458 $ 0.1458
---------------------------------------------------------------------------
First Asset Yield Opportunity Trust -
Series B FAY.U $ 0.0440 $ 0.0440
---------------------------------------------------------------------------
Global 45 Split Corp.
- Class A Shares GFV $ 0.10 $ 0.10
---------------------------------------------------------------------------
Global 45 Split Corp.
- Preferred Shares GFV.PR.A $ 0.13125 $ 0.13125
---------------------------------------------------------------------------
First Asset REIT Income Fund (See
Part II below also) RIT.UN $ 0.08 $ 0.08
---------------------------------------------------------------------------
First Asset Income & Growth Fund (a) IGF.UN $ 0.05833 $ 0.05833
---------------------------------------------------------------------------
First Asset Pipes & Power Income
Fund EWP.UN $ 0.05833 $ 0.05833
---------------------------------------------------------------------------
First Asset/BlackRock North American
Dividend Achievers™ Trust BDA.UN $ 0.05 $ 0.05
---------------------------------------------------------------------------
Split REIT Opportunity Trust -
Capital Units (See Part II
below also) SOT.UN $ 0.0875 $ 0.0875
---------------------------------------------------------------------------
Split REIT Opportunity Trust -
Preferred Securities SOT.PR.A $ 0.14375 $ 0.14375
---------------------------------------------------------------------------
Utility Split Trust
- Capital Units (b) UST.UN $ 0.09688 $ 0.09688
---------------------------------------------------------------------------
Utility Split Trust
- Preferred Securities UST.PR.A $ 0.15 $ 0.15
---------------------------------------------------------------------------
First Asset Diversified Convertible
Debenture Fund DCD.UN $ 0.30 $ 0.30
---------------------------------------------------------------------------
First Asset Global Infrastructure
Fund FAI.UN $ 0.15 $ 0.15
---------------------------------------------------------------------------


(a) In respect of First Asset Income & Growth Fund (TSX:IGF.UN), based upon prevailing market conditions, and the Manager's estimate of distributable cash, the Manager has determined that the indicative distribution amount for 2008 is expected to remain unchanged at $0.70 per Unit, representing an annual distribution of 7% based on the initial subscription price of $10 per Unit.

(b) In respect of the Capital Units of Utility Split Trust (TSX:UST.UN), based upon prevailing market conditions, and the Manager's estimate of distributable cash, the Manager has determined that the indicative distribution amount for 2008 is expected to remain unchanged at $0.09688 per Capital Unit.



Part II - Distributions to be Paid in Units

---------------------------------------------------------------------------
Name TSX Previously Confirmed
Symbol Estimated Distribution
Distribution Amount
Amount (per unit)
(per unit)
---------------------------------------------------------------------------
First Asset REIT Income Fund RIT.UN $ 0.74 $ 0.69
---------------------------------------------------------------------------
Split REIT Opportunity Trust - Capital
Units SOT.UN $ 2.00 $ 1.70
---------------------------------------------------------------------------


Contact Information

  • First Asset
    Rob MacNiven
    Investor Relations
    (416) 642-1289 or 1-877-642-1289
    Website: www.firstasset.com