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First Asset Final Distributions for 2011 Year-End

TORONTO, January 10, 2012 - Further to its announcement on December 19, 2011, First Asset confirms the previously announced regular distributions for the year ending December 31, 2011 for the Funds listed below ("Regular Distributions").These distributions will be paid in cash on or before January 13, 2012, to holders of record on December 30, 2011.


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                                                         TSX        Regular 
Name                                                  Symbol    Distribution
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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 (USD)
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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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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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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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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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North American Advantaged Convertibles Fund           NCD.UN          $0.125
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Canadian REIT Income Fund                             RIU.UN     $0.1612 (i)
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(i) This distribution includes a pro rated amount for the period from the   
closing of the Fund's initial public offering (September 16, 2011) to       
December 31, 2011.

The estimated special distributions announced on December 19, 2011 are revised to the amounts set out in the table below (the "Special Distributions"). The Special Distributions will be paid in cash and in units. One-quarter will be paid in cash, and the balance will be paid by the issuance of units of each Fund, and immediately thereafter, the issued and outstanding capital of each Fund will be consolidated such that the number of issued and outstanding units of each Fund does not change. As a result, the net asset value per unit of each Fund will decrease by an amount equal to the cash portion of the Special Distribution. The cash portion of the Special Distributions is intended to cover the maximum tax liability for capital gains for unitholders in the highest marginal tax bracket (premised on the special distribution being comprised of capital gains).

All of the Special Distributions will be payable on December 30, 2011, and will be paid (in cash or in securities as described above) on or before January 13, 2012 to holders of record on December 30, 2011.


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                                                                     Special
                                                                Distribution
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                                                     TSX                    
Name                                              Symbol   In Cash In Shares
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First Asset REIT Income Fund                      RIT.UN   $0.1925   $0.5775
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First Asset Canadian Dividend Opportunity Fund    DOF.UN    $0.055    $0.165
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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.