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First Asset Canadian Dividend Opportunity Fund: Distribution Press Release

TORONTO, April 19, 2011 - First Asset Canadian Dividend Opportunity Fund (TSX: DOF.UN) announces a distribution of $0.05 per Unit for the month ending April 30, 2011. The distribution will be paid on or before May 13, 2011 to unitholders of record on April 29, 2011.

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