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First Asset PowerGen Fund Announces Distribution

TORONTO, Aug. 20, 2008 - First Asset PowerGen Fund (TSX:PGT.UN) announces a distribution of $0.12 per unit per month ($1.44 per unit per annum) for the month ending August 31, 2008. The distribution will be paid on or before September 15, 2008 to unitholders of record on August 29, 2008.

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