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Payout Performers<sup>TM</sup> Income Fund Announces Normal Course Issuer Bid for Units

TORONTO, March 20, 2006 - Payout PerformersTM Income Fund (the "Fund") (TSX: "PPF.UN") announced today acceptance by The Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to commence a Normal Course Issuer Bid the "NCIB"). Pursuant to the NCIB, the Fund proposes to purchase, from time to time, if it is considered advisable, up to 264,000 Units of the Fund, representing approximately 10% of the public float, which is the same number as the Fund's issued and outstanding Units, being 2,640,000 Units as of the date hereof, on the TSX commencing March 22, 2006. The Board of Directors of First Asset Funds Inc., the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the Fund's funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on March 21, 2007. There have been no previous purchases of Units by the Fund.

For further information, please call Rob MacNiven, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289 or visit www.firstassetfunds.com.