First National AlarmCap Income Fund
TSX : FNA.UN

First National AlarmCap Income Fund

September 20, 2011 18:41 ET

First National AlarmCap Income Fund Announces Closing of Sale of Assets and Distribution

EDMONTON, ALBERTA--(Marketwire - Sept. 20, 2011) - First National AlarmCap Income Fund (TSX:FNA.UN) (the "Fund") is pleased to announce that the sale of substantially all of its assets for cash consideration of approximately $59,671,000 to Stanley Canada Corporation ("Stanley"), a subsidiary of S&P 500 company Stanley Black & Decker, has been completed with an effective date of September 19, 2011.

The Fund would also like to announce a cash distribution of $5.00 per class A trust unit of the Fund as a return of capital. The distribution will be paid on or around October 10, 2011 to unitholders of record as at the close of business on September 30, 2011. As previously announced, as soon as practicable, it is expected that the Fund will be wound up and the remaining assets of the Fund will be distributed to unitholders.

Finally, the Fund also announces the resignations of George Fink and Dean Setoguchi as trustees of the Fund and Fred Fong as trustee and chief executive officer of the Fund. John Campbell will continue as the administrator of the Fund and Scott Riddell, an independent Calgary businessman with 18 years of investment banking and financial services experience, will join Don McPherson and Tim Whyte on the board of trustees of the Fund. Mr. McPherson, chairman of the Fund, says "on behalf of the board of trustees I would like to extend our sincere appreciation to the outgoing trustees and CEO for their efforts in guiding the Fund over the past years. The positive outcome announced today is attributed in large part to the hard work and dedication of these individuals. The remaining trustees look forward to working with Mr. Riddell on the final steps to wind up the Fund."

The Fund is an unincorporated, open-ended, limited purpose trust and its Units are listed on the Toronto Stock Exchange. Information about First National AlarmCap Income Fund can be found at www.sedar.com or at www.alarmcap.ca.

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws relating to the wind-up. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the Fund will not proceed with the wind-up or that the ultimate terms of the wind-up will differ from those that currently are contemplated. The statements in this news release are made as of the date of this release. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Fund undertakes no obligation to update forward-looking statements except as may be required by applicable law.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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