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First Asset Yield Opportunity Trust: Distribution Press Release

TORONTO, January 20, 2011 - First Asset Yield Opportunity Trust (TSX:FAY.UN)(TSX:FAY.U) announces a distribution of $0.1458 per Series A Unit, and US$0.0440 per Series B Unit, for the month ending January 31, 2011. The distributions will be paid on or before February 15, 2011 to unitholders of record on January 31, 2011.

For further information, please contact Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com