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First Asset PowerGen Trust I Announces Distribution

TORONTO, ONTARIO--(CCNMatthews - Jan. 22, 2007) - First Asset PowerGen Trust I (TSX:PFA.UN) announces a distribution of $0.10 per unit per month ($1.20 per unit per annum) for the month ending January 31, 2007. The distribution will be paid on February 15, 2007 to unitholders of record on January 31, 2007.

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.