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First Asset PowerGen Trust I and First Asset PowerGen Trust III Announce Distributions

TORONTO, ONTARIO--(CCNMatthews - Feb. 19, 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) and First Asset PowerGen Trust III (TSX:PGT.UN) announces a distribution of $0.11 per unit per month ($1.32 per unit per annum) for the month ending February 28, 2007. The distributions will be paid on March 15, 2007 to unitholders of record on February 28, 2007.

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