First Asset

First Asset
Payout Performers Income Fund
TSX : PPF.UN

Payout Performers Income Fund
First Asset/BlackRock North American Dividend Achievers(TM) Trust
TSX : BDA.UN

First Asset/BlackRock North American Dividend Achievers(TM) Trust

September 27, 2007 18:43 ET

Payout Performers Income Fund and First Asset/BlackRock North American Dividend Achievers™ Trust Announce Exchange Ratio

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2007) - Payout Performers Income Fund (TSX:PPF.UN) ("PPF") and First Asset/BlackRock North American Dividend Achievers™ Trust (TSX:BDA.UN) ("BDA") announced that each unit of PPF will be entitled to receive 0.9051 units of BDA upon the redemption of the units of PPF to be completed immediately following the merger of PPF into BDA on Friday, September 28, 2007.

The exchange ratio was determined by dividing (i) the net asset value per unit of PPF as at the close of business on September 27, 2007 (i.e. $9.06 per Unit) by (ii) net asset value per unit of BDA as at the close of business on September 27, 2007 (i.e. $10.01 per Unit).

Dividend Achievers™ is a trademark of Mergent, Inc. and has been licensed for use by BDA. BDA is not sponsored, endorsed, sold or promoted by Mergent and Mergent makes no representation regarding the advisability of investing in BDA.

Contact Information

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