Pour diffusion

First Asset REIT Income Distribution Press Release

TORONTO, January 20, 2010 - First Asset REIT Income Fund (the "Fund") (TSX: RIT.UN) announces a distribution of $0.05 per Unit for the month ending January 31, 2010. The distribution will be paid on or before February 12, 2010 to unitholders of record on January 29, 2010.

The Manager of the Fund also announces that it will continue to assess and announce distributions on a monthly basis instead of announcing an annual indicative distribution amount.

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