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First Asset Income & Growth Fund Announces Completion of Merger

TORONTO, Wednesday, December 30, 2009 - First Asset Income & Growth Fund (TSX: IGF.UN) ("Income & Growth") announces the completion of its merger with Criterion Global Dividend Fund ("Global Dividend").

Each issued and outstanding unit of Income & Growth received 1.01086 Class D Units of the Global Dividend in connection with the merger.

The exchange ratio was determined by dividing (i) the net asset value per unit of Income & Growth as at the close of business on December 29, 2009 (i.e. $8.01943 per Unit) by (ii) net asset value per Class D unit of Global Dividend as at the close of business on December 29, 2009 (i.e. $7.93326 per Unit).

For further information, please call Robert MacNiven, Investor Relations, First Asset, at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.