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First Asset PowerGen Fund: Press Release

TORONTO, December 18, 2009 - First Asset PowerGen Fund (TSX: PGT.UN) (the "Fund") announces an estimated distribution of $0.07 per Unit for the month ending December 31, 2009. The distribution will be paid on or before January 15, 2009 to unitholders of record on December 31, 2009. The distribution will be confirmed shortly after the year-end, and prior to payment, once the Fund's year-end tax position is known.

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