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First Asset Announces June, 2008 Distributions

TORONTO, June 19, 2008 - First Asset announces the following confirmed distributions for the month and quarter ending June 30, 2008. In all cases, the distribution will be paid on or before July 15, 2008 to unitholders of record on June 30, 2008.

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                                                                   Pre-Tax
                                  Distribution      TSX   Annual- Interest
                              TSX       Amount  Trading      ized  Equiva-
Name                       Symbol    (per unit) Price(a)  Yield(b)  lent(c)
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                                    MONTHLY
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First Asset Yield
 Opportunity Trust -
 Series A                  FAY.UN      $0.1458   $20.53      8.52%   12.21%
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First Asset Yield
 Opportunity Trust -                       USD      USD
 Series B                   FAY.U      $0.0440    $5.34      9.89%   14.17%
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Global 45 Split Corp.
 - Class A Shares             GFV        $0.10   $12.65      9.49%   13.59%
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First Asset REIT Income
 Fund                      RIT.UN        $0.07   $10.94      7.68%   10.67%
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First Asset Income &
 Growth Fund               IGF.UN     $0.05833    $9.00      7.78%   10.47%
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First Asset Pipes &
 Power Income Fund         EWP.UN     $0.05833    $7.05      9.93%   12.51%
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First Asset/BlackRock
 North American Dividend
 Achievers(TM) Trust       BDA.UN        $0.05    $7.60      7.89%   11.31%
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Split REIT Opportunity
 Trust - Capital Units     SOT.UN      $0.0875   $13.70      7.66%   10.98%
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Utility Split Trust
 - Capital Units           UST.UN     $0.09688   $11.04     10.53%   14.18%
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                                  QUARTERLY
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Global 45 Split Corp.
 - Preferred Shares      GFV.PR.A     $0.13125   $10.18      5.16%   7. 39%
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Split REIT Opportunity
 Trust - Preferred
 Securities              SOT.PR.A     $0.14375   $10.31      5.58%    5.58%
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Utility Split Trust
 - Preferred Securities  UST.PR.A        $0.15   $10.31      5.82%    5.82%
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First Asset Diversified
 Convertible Debenture
 Fund                      DCD.UN        $0.30   $18.13      6.62%    9.49%
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First Asset Global
 Infrastructure Fund       FAI.UN        $0.15    $8.11      7.40%     n/a
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(a) As at close on June 17, 2008. (b) Based on trading price as at June 17,
2008. (c) Estimated - based on Ontario tax rates.

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