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All Energy Look-Back Trust Files Preliminary Prospectus

TORONTO, April 30, 2008 - First Asset is pleased to announce that a preliminary prospectus for All Energy Look-Back Trust (the "Trust") has been filed with the securities regulatory authorities of all the Canadian provinces for an initial public offering of units of the Trust.

The Trust will offer units at a price of $10.00 per Unit, payable in two instalments. The first instalment of $5.00 is payable upon the closing of the offering. The second instalment of $5.00 is payable on January 9, 2009.

The Trust intends to capitalize on the belief that energy assets - both oil & gas and renewable - will continue to become more valuable due to strong global demand and, in particular, increasing demand from rapidly growing countries like China, India and Brazil, and that companies engaged in the energy sector will continue to be attractive investments over the long term however, First Asset also believes that the price of energy will continue to evidence volatility over the near term with the potential for material price swings. In order to attempt to capitalize on this outlook of long term growth coupled with near term volatility and price divergence, the Trust will purchase a "look-back" option which in effect will grant the Trust the right to look back after approximately 6 months and have the right to buy West Texas Intermediate ("WTI") Crude Oil at the lowest average weekly Spot Price during the period, in a total amount specified in the Look-Back Option, and then to immediately sell the same quantity of WTI Crude Oil at the Spot Price on the second instalment date of January 9, 2009.

The Trust's investment objectives are to provide Unitholders with the opportunity for capital appreciation and distributions. Distributions will commence following the payment of the second instalment. First Asset Investment Management Inc., which has in excess of $1.1 billion in assets under management (including over $300 million across several energy mandates), will actively manage the Portfolio of the Trust in order to attempt to achieve the investment objectives.

The syndicate of agents for this offering is being led by CIBC World Markets Inc., RBC Capital Markets, and National Bank Financial Inc. and includes BMO Capital Markets, Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc, Raymond James Ltd., Canaccord Adams, Dundee Securities Corporation, Blackmont Capital Inc., GMP Securities L.P., Wellington West Capital Inc., Berkshire Securities Inc., Desjardins Securities Inc., Research Capital Corporation and Richardson Partners Financial Limited.

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