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First Asset Closed-End Funds September Distributions

TORONTO, September 19, 2013 – First Asset Closed-End Funds announces the following distributions for the month and quarter ending September 30, 2013. In all cases, the distribution will be paid on or before October 15, 2013, to holders of record on September 30, 2013.


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Name                                     TSX Symbol  Distribution (per unit)
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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 Canadian 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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Utility Split Trust - Capital Units          UST.UN                    $0.05
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Utility Split Trust - Preferred Shares     UST.PR.B                 $0.13125
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Triax Diversified High-Yield Trust           TRH.UN                    $0.07
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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                    $0.15
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North American Advantaged Convertibles                                      
 Fund                                        NCD.UN                   $0.125
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First Asset Canadian Dividend Opportunity                                   
 Fund II                                     DVF.UN                 $0.04167
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CanBanc 8 Income Corp.                          CBF                    $0.15
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First Asset Morningstar U.S. Consumer                                       
 Defensive Index Fund                        UCD.UN                    $0.05
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With respect to Preferred Share Investment Trust (TSX: PSF.UN), the Manager generally provides annual guidance as to the expected amount of the distribution for the coming year. Rather than provide precise guidance at this time, the Manager will assess the amount of the distribution on a quarterly basis having regard to, among other things, the anticipated net cash flows, the net asset value and markets generally. There can be no assurance that the amount will not vary from quarter to quarter, or that the Trust will make any distribution in any particular quarter.

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