Preferred Securities Income Fund
TSX : PFS.UN

Preferred Securities Income Fund

June 12, 2006 17:00 ET

Preferred Securities Income Fund 'TSX:PFS.UN' Results Of Special Unitholder Meeting

TORONTO, ONTARIO--(CCNMatthews - June 12, 2006) - First Asset Funds Inc., the Manager and Trustee of Preferred Securities Income Fund (TSX:PFS.UN) announces that all of the special resolutions proposed in the Management Information Circular dated May 1, 2006 (and referred to in a press release dated May 1, 2006) were approved by the unitholders at the adjourned meeting held today, with the exception of resolutions B (additional issuances of units) and J (payment of management fees in units), which were withdrawn from consideration.

The Trustee anticipates implementing the changes approved today on or before June 19, 2006.

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