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First Asset PowerGen Fund: Press Release

TORONTO, May 20, 2009 - First Asset PowerGen Fund (TSX: PGT.UN) announces a distribution of $0.07 per Unit for the month ending May 29, 2009. The distribution will be paid on or before June 12, 2009 to unitholders of record on May 29, 2009.

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