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First Asset Yield Opportunity Trust Announces Extension of Forward Agreement

TORONTO, December 20, 2013 – First Asset Yield Opportunity Trust (TSX: FAY.UN and FAY.U) (the "Fund") announces that it has extended the term of its forward agreements to December 17, 2014. The extension is permitted pursuant to transitional relief provided by the Department of Finance to investment funds – like the Fund – that are affected by the character conversion rules announced in March, 2013.

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

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