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Split REIT Opportunity Trust: Distribution Press Release

TORONTO, August 20, 2009 - Split REIT Opportunity Trust (TSX: SOT.UN) announces a distribution of $0.045 per Capital Unit for the month ending August 31, 2009. The distribution will be paid to Capital Unitholders on or before September 15, 2009 to uniholders of record on August 31, 2009.

The Manager will assess the amount of distributions, if any, on a monthly basis, including consideration of the Preferred Security Test.

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