First Asset Equal Weight Pipes & Power Income Fund

First Asset Equal Weight Pipes & Power Income Fund

March 18, 2005 08:00 ET

First Asset Equal Weight Pipes & Power Income Fund Announces Notice Of Intention To Purchase Units


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FIRST ASSET EQUAL WEIGHT PIPES & POWER INCOME FUND

TSX SYMBOL: EWP.UN

MARCH 18, 2005 - 08:00 ET

First Asset Equal Weight Pipes & Power Income Fund
Announces Notice Of Intention To Purchase Units

TORONTO, ONTARIO--(CCNMatthews - March 18, 2005) - First Asset Equal
Weight Pipes & Power Income Fund (TSX:EWP.UN) announced today that to
enable it to execute its mandatory market purchase program if and when
required, and to permit the Trust to otherwise acquire Units, the Trust
has filed with the Toronto Stock Exchange a notice of intention to make
normal course purchases of its Units. The TSX has accepted the notice.

Under this normal course issuer bid the Trust may purchase up to
1,257,000 of the Units of the Trust, representing 10% of the public
float of the Trust, which is the same number as the Trust's outstanding
Units, being 12,570,000 as of the date hereof. Purchases of Units will
commence on March 18, 2005 and will terminate on March 17, 2006, or on
such earlier date as the Trust may complete its purchases pursuant to
the Notice. Purchases will be made in the open market through the
facilities of the TSX in accordance with its rules and policies. The
price that the Trust will pay for any such Units will be the market
price of such Units at the time of acquisition. Units purchased will be
cancelled.

To the knowledge of the Trustee, no director, officer or other insider
of the Trustee or the Trust intends at present to sell any Units under
this bid.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    First Asset Funds Inc.
    Tanya Carey
    (416) 642-1289 or 1 (877) 642-1289
    or visit www.firstassetfunds.com