First National AlarmCap Income Fund
TSX : FNA.UN

First National AlarmCap Income Fund

June 16, 2010 12:26 ET

First National AlarmCap Income Fund Announces Partial Prepayment of Subordinated Debentures

EDMONTON, ALBERTA--(Marketwire - June 16, 2010) - First National AlarmCap Income Fund (TSX:FNA.UN) (the "Fund") is pleased to announce that, effective June 9th, 2010, the Fund has prepaid $2 million of its $5 million of subordinated debentures due April 2011. The subordinated debentures bear interest at 9% and are prepayable without penalty after April 2010. Disbursement of the funds to the individual debenture holders is being handled by Wellington West Capital Inc.

The Trustees noted that the Fund had sufficient cash on hand to make a partial repayment without impacting the Fund's operations or current credit arrangements. Chief Executive Officer, Fred Fong, stated "This prepayment reflects the improved financial position of the Fund and is a prudent use of excess cash balances on hand. We will continue to look for opportunities to improve our financial position as we execute our business plan."

The Fund is an unincorporated, open-ended, limited purpose trust and its Class A trust units are listed on the Toronto Stock Exchange. The Fund was established to acquire substantially all of the assets and shares of Microtec Enterprises Inc. and substantially all of the assets of Securex Master Limited Partnership. The Microtec division, based in Quebec, is one of the largest full service security alarm monitoring operations in Canada. Information about First National AlarmCap Income Fund can be found at www.sedar.com or at www.alarmcap.ca.

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