Pour diffusion

First Asset/Blackrock North American Dividend Achievers(TM) Trust Announces Results of Special Unitholder Meeting

TORONTO, ONTARIO--(CCNMatthews - May 18, 2007) - First Asset/BlackRock North American Dividend Achievers(TM) Trust (TSX:BDA.UN) announces that at a special meeting of the unitholders of the Trust held today, unitholders approved the four extraordinary resolutions proposed to them in the Management Information Circular dated April 10, 2007. The approvals authorize amendments to the Trust's Declaration of Trust to permit: (a) an additional redemption right in certain circumstances; (b) the issuance of additional units in certain circumstances; (c) merging the Trust with one or more affiliated funds in certain circumstance, including the merging funds having similar investment objectives; and (d) termination of the Trust by the Manager if deemed to be in the best interest of Unitholders.

For more details concerning the resolutions, please refer to the Management Information Circular which was mailed to unitholders. The circular is available on SEDAR at www.sedar.com or on the Manager's website at www.firstassetfunds.com.

The amendments to the declaration of trust remain subject to receipt of all necessary regulatory approvals, including consent of the Toronto Stock Exchange.

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.