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First Asset CanBanc Split Corp.: Distribution Press Release

TORONTO, September 21, 2009 - First Asset CanBanc Split Corp. (TSX: CBU.PR.A) (the "Fund") announces a quarterly distribution of $0.1625 per Preferred Share for the quarter ending September 30, 2009. The distribution will be paid on or before October 15, 2009 to Preferred Shareholders of record on September 30, 2009.

The Fund's most recent net asset value per unit is $35.22.

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