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First Asset: Distribution Press Release

TORONTO, September 21, 2011 - First Asset announces the following distributions for the month and quarter ending September 30, 2011. In all cases, the distribution will be paid on or before October 14, 2011, to unitholders of record on September 30, 2011.

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                                                                Distribution
                                                                     Amount 
Name                                                TSX Symbol    (per unit)
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                                   MONTHLY                                  
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First Asset Yield Opportunity Trust - Series A          FAY.UN $      0.1458
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First Asset Yield Opportunity Trust - Series B           FAY.U $       0.044
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First Asset REIT Income Fund                            RIT.UN $        0.05
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First Asset Pipes & Power Income Fund                   EWP.UN $        0.03
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Split REIT Opportunity Trust - Capital Units            SOT.UN $       0.045
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Utility Split Trust - Capital Units                     UST.UN $        0.05
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Triax Diversified High-Yield Trust                      TRH.UN $        0.07
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First Asset Canadian Dividend Opportunity Fund          DOF.UN $        0.05
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                                  QUARTERLY                                 
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Split REIT Opportunity Trust - Preferred Shares       SOT.PR.A $     0.14375
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Utility Split Trust - Preferred Shares                UST.PR.A $        0.15
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First Asset Diversified Convertible Debenture Fund      DCD.UN $        0.30
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Preferred Share Investment Trust                        PSF.UN $       0.175
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First Asset CanBanc Split Corp. - Preferred Shares    CBU.PR.A $      0.1625
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CanBanc Income Corp.                                       CIC $       0.175
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Can-60 Income Corp.                                        CSY $      0.1625
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Canadian Advantaged Convertibles Fund                   ADC.UN $        0.15
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Can-Financials Income Corp.                                FIC $       0.175
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For further information, please contact Rob MacNiven, Investor Relations at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.