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First Asset Canadian Dividend Opportunity Fund Announces Exchange Ratios

TORONTO, Tuesday, April 6, 2010 - First Asset Investment Management Inc. is pleased to announce the exchange ratios for the exchange option by First Asset Canadian Dividend Opportunity Fund (the "Fund") provided under the final prospectus of the Fund dated March 22, 2010. The closing of the initial public offering of the units of the Fund (the "Units") is schedule to occur on April 19, 2010 and the Units will commence trading on that date on the Toronto Stock Exchange (the "TSX") under the symbol DOF.UN.

The number of Units issuable for the exchange eligible securities (the "Exchange Ratio") was determined by dividing the volume weighted average trading price for such securities on the TSX during the period of five consecutive trading days ending on April 5, 2010 (the "Pricing Period"), as adjusted to reflect distributions declared in respect of the exchange eligible securities that will not be received by the Fund, by $10.00.

The following table specifies for each of the securities that have been deposited: (i) the name of issuer; (ii) the trading symbol; (iii) the volume weighted average trading price during the Pricing Period as adjusted, if applicable; and (iv) the Exchange Ratio.

The Exchange Ratios were rounded to four decimal places.


                                                           Volume           
                                                          Weighted          
          Name of Issuer              Trading Symbol       Average  Exchange
                                                           Trading   Ratio  
                                                          Price ($)         
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Preferred Shares                                                            
BCE Inc                          BCE 4.8 P12/31/49 AA    22.4206   2.2420   
BCE Inc                          BCE V4.4 P12/31/49 16   22.0672   2.2067   
BCE Inc                          BCE V6.174 P12/31/49 R  21.4118   2.1411   
BCE Inc                          BCE V4.65 P12/31/49 19  21.7696   2.1769   
BCE Inc                          BCE V4.331 P12/31/49 Z  21.1813   2.1181   
BCE Inc                          BCE V5.54 P12/31/49 AC  21.687    2.1687   
BCE Inc                          BCE V4.35 P12/31/49 17  21.9116   2.1911   
Bank of Montreal                 BMO 5.8 P12/31/49 15    24.0517   2.4051   
Bank of Montreal                 BMO 5.2 P12/31/49 16    26.3705   2.6370   
Bank of Montreal                 BMO 5.25 P12/31/49 14   21.6348   2.1634   
Bank of Montreal                 BMO V6.5 P12/31/49 21   28.4972   2.8497   
Bank of Montreal                 BMO 4.5 P12/31/49 13    19.4305   1.9430   
Bank of Montreal                 BMO V5.4 12/31/49 23    27.2223   2.7222   
Bank of Montreal                 BMO 5.3 P12/31/49 5     22.6519   2.2651   
Bank of Nova Scotia              BNS 4.5 P12/31/49 14    19.2556   1.9255   
Bank of Nova Scotia              BNS V5 P12/31/49 22     26.3839   2.6383   
Bank of Nova Scotia              BNS 5 P12/31/49 18      26.3217   2.6321   
Bank of Nova Scotia              BNS 5.25 P12/31/49 16   22.1035   2.2103   
Bank of Nova Scotia              BNS 5.6 P12/31/49 17    23.9757   2.3975   
Bank of Nova Scotia              BNS 4.5 P12/31/49 15    19.2609   1.9260   
Bank of Nova Scotia              BNS 4.8 P12/31/49 13    20.3968   2.0396   
Bank of Nova Scotia              BNS 5.25 P12/31/49 12   22.3609   2.2360   
Bank of Nova Scotia              BNS V6.25 P12/31/49 26  28.1685   2.8168   
Bank of Nova Scotia              BNS V5 P12/31/49 20     26.2322   2.6232   
Bank of Nova Scotia              BNS V6.25 P12/31/49 28  28.1455   2.8145   
Bombardier Inc                   BBD 6.25 P12/31/49 4    22.6328   2.2242   
Brookfield Asset Management Inc  BAM 4.75 P12/31/49 18   17.1803   1.7180   
Brookfield Asset Management Inc  BAM V5.4 P12/31/49 24   25.2986   2.5298   
Brookfield Asset Management Inc  BAM 4.75 P12/31/49 17   17.1573   1.7157   
Brookfield Asset Management Inc  BAM 5.75 P12/31/49 10   25.7643   2.5764   
Brookfield Asset Management Inc  BAM 5.4 P12/31/49 12    26.0887   2.6088   
Brookfield Asset Management Inc  BAM V7 12/31/49 22      27.2519   2.7251   
Brookfield Asset Management Inc  BAM F P12/31/49 13      17.7723   1.7772   
Brookfield Properties Corp       BPOCN 5 P12/31/49 J     24.1849   2.4184   
Brookfield Properties Corp       BPOCN 6.75 12/31/49 L   25.6326   2.5632   
Brookfield Properties Corp       BPOCN 5.2 P12/31/49 K   23.7226   2.3722   
Brookfield Properties Corp       BPOCN 5.2 P12/31/49 I   25.3648   2.5364   
Brookfield Properties Corp       BPOCN 6 P12/31/49 F     25.3412   2.5341   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 6.5 P12/31/49 35     28.1363   2.8136   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 4.5 P12/31/49 32     18.3822   1.8382   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 4.8 P12/31/49 30     19.3985   1.9398   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 5.4 P12/31/49 29     21.8249   2.1824   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM V5.35 P12/31/49 33   26.7332   2.6733   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 5.6 P12/31/49 27     22.8597   2.2859   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 4.7 P12/31/49 31     19.0623   1.9062   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 5.5 P12/31/49 18     22.212    2.2212   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 5.75 P12/31/49 26    23.3499   2.3349   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM V6.5 P12/31/49 37    28.121    2.8121   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM 5.3 P12/31/49 23     25.4455   2.5445   
Canadian Utilities Ltd           CUCN 6 P12/31/49 X      25.1018   2.5101   
Fortis Inc/Canada                FTSCN 5.25 P12/31/49 G  26.01     2.6010   
Fortis Inc/Canada                FTSCN 4.9 P12/31/49 F   20.5535   2.0553   
George Weston Ltd                WN 4.75 P12/31/49 V     18.6359   1.8635   
George Weston Ltd                WN 5.8 P12/31/49 I      22.9787   2.2978   
George Weston Ltd                WN 5.2 P12/31/49 IV     20.2482   2.0248   
George Weston Ltd                WN 5.2 P12/31/49 III    20.2582   2.0258   
Great-West Lifeco Inc            GWOCN 4.5 12/31/49 I    18.4662   1.8466   
Great-West Lifeco Inc            GWOCN 5.2 P12/31/49 G   21.2856   2.1285   
Great-West Lifeco Inc            GWOCN 4.85 P12/31/49 H  19.7668   1.9766   
Great-West Lifeco Inc            GWOCN 5.65 P12/31/49 L  23.5587   2.3558   
Great-West Lifeco Inc            GWOCN 5.9 P12/31/49 F   24.3571   2.4357   
HSBC Bank Canada/Toronto         HSBC V6.6 P12/31/49 E   28.0071   2.8007   
Industrial Alliance Insurance &                                             
 Financial Services Inc          IAGCN 4.6 P12/31/49 A   18.8882   1.8888   
Manulife Financial Corp          MFCCN 4.65 P12/31/49 2  18.8996   1.8899   
Manulife Financial Corp          MFCCN 4.5 12/31/49 3    18.1997   1.8199   
Manulife Financial Corp          MFCCN V5.6 P12/31/49 1  26.9904   2.6990   
Manulife Financial Corp          MFCCN 6.6 P12/31/49 4   28.0828   2.8082   
National Bank of Canada          NACN 4.85 P12/31/49 16  20.2463   1.9943   
National Bank of Canada          NACN V6.6 P12/31/49 24  28.1123   2.7699   
National Bank of Canada          NACN V6.6 P12/31/49 26  28.1532   2.7740   
National Bank of Canada          NACN 6 P12/31/49 20     25.1422   2.4767   
National Bank of Canada          NACN 5.85 P12/31/49 15  24.4382   2.4072   
Power Corp of Canada/Canada      POW 5.6 P12/31/49 A     22.537    2.2537   
Power Corp of Canada/Canada      POW 5.35 P12/31/49 B    21.2812   2.1281   
Power Corp of Canada/Canada      POW 5.8 P12/31/49 C     23.1744   2.3174   
Power Corp of Canada/Canada      POW 5 P12/31/49 D       19.9213   1.9921   
Power Financial Corp             PWF 5.1 P12/31/49 L     20.7713   2.0452   
Power Financial Corp             PWF 4.95 P12/31/49 K    20.1097   1.9800   
Power Financial Corp             PWF 5.5 P12/31/49 D     22.3093   2.1965   
Power Financial Corp             PWF 5.75 P12/31/49 H    23.6658   2.3306   
Power Financial Corp             PWF 5.25 P12/31/49 E    21.2132   2.0885   
Power Financial Corp             PWF V6 P12/31/49 M      27.2644   2.6889   
Power Financial Corp             PWF 5.9 P12/31/49 F     24.1139   2.3745   
Royal Bank of Canada             RY V5.6 P12/31/49 AL    27.1648   2.7164   
Royal Bank of Canada             RY 4.7 P12/31/49 AB     19.9187   1.9918   
Royal Bank of Canada             RY V6.25 P12/31/49 AP   27.9869   2.7986   
Royal Bank of Canada             RY 4.5 P12/31/49 AG     19.0629   1.9062   
Royal Bank of Canada             RY 4.45 P12/31/49 AA    18.9572   1.8957   
Royal Bank of Canada             RY V6.25 P12/31/49 AV   28.1365   2.8136   
Royal Bank of Canada             RY 4.5 12/31/49 AE      19.0669   1.9066   
Royal Bank of Canada             RY 5 P12/31/49 AJ       26.4759   2.6475   
Royal Bank of Canada             RY 4.6 P12/31/49 AC     19.4266   1.9426   
Royal Bank of Canada             RY 4.9 P12/31/49 W      21.0368   2.1036   
Royal Bank of Canada             RY 4.5 P12/31/49 AD     19.1043   1.9104   
Royal Bank of Canada             RY V6.1 P12/31/49 AX    28.0907   2.8090   
Royal Bank of Canada             RY 5.65 P12/31/49 AH    24.2487   2.4248   
Royal Bank of Canada             RY V6.25 P12/31/49 AT   28.1356   2.8135   
Royal Bank of Canada             RY 4.45 P12/31/49 AF    18.8788   1.8878   
Royal Bank of Canada             RY V6.25 P12/31/49 AR   28.1229   2.8122   
Sun Life Financial Inc           SLFCN 4.5 P12/31/49 5   18.148    1.8148   
Sun Life Financial Inc           SLFCN 4.45 P12/31/49 4  17.9161   1.7916   
Sun Life Financial Inc           SLFCN 4.8 P12/31/49 2   19.2749   1.9274   
Sun Life Financial Inc           SLFCN 4.75 P12/31/49 1  19.0828   1.9082   
Sun Life Financial Inc           SLFCN 4.45 P12/31/49 3  17.9257   1.7925   
Sun Life Financial Inc           SLFCN V6 12/31/49 6R    27.6855   2.7685   
Toronto-Dominion Bank/The        TD 5.6 P12/31/49 R      23.7458   2.3395   
Toronto-Dominion Bank/The        TD V6.25 P12/31/49 AG   28.1682   2.7777   
Toronto-Dominion Bank/The        TD 4.85 P12/31/49 O     20.9425   2.0639   
Toronto-Dominion Bank/The        TD V6.25 P12/31/49 AI   28.2477   2.7857   
Toronto-Dominion Bank/The        TD V5 P12/31/49 S       26.2889   2.5976   
Toronto-Dominion Bank/The        TD 5.25 P12/31/49 P     22.7711   2.2442   
TransCanada PipeLines Ltd        TRP 5.6 P12/31/49       48.6404   4.8640   
Yellow Media                     YLO 5                   24.1544   2.4154   
Yellow Media                     YLO 4 1/4               24.154    2.4154   
                                                                            
Equities                                                                    
Allied Properties Real Estate                                               
 Investment Trust                AP.UN                   20.4872   2.0487   
ARC Energy Trust                 AET.UN                  20.7761   2.0776   
Armtec Infrastructure Income FundARF.UN                  21.495    2.1495   
Artis Real Estate Investment                                                
 Trust                           AX.UN                   11.5697   1.1569   
Atlantic Power Corp              ATP                     12.1357   1.2135   
Bank of Montreal                 BMO                     61.7523   6.1752   
Bank of Nova Scotia              BNS                     50.8761   5.0876   
BCE Inc                          BCE                     30.1003   3.0100   
Bell Aliant Regional                                                        
 Communications Income Fund      BA.UN                   25.5753   2.5575   
Bird Construction Income Fund    BDT.UN                  32.2335   3.2233   
Boardwalk Real Estate Investment                                            
 Trust                           BEI.UN                  40.665    4.0665   
Bonavista Energy Trust           BNP.UN                  23.5609   2.3560   
Brookfield Infrastructure                                                   
 Partners LP                     BIP.UN                  17.7341   1.7734   
Calloway Real Estate Investment                                             
 Trust                           CWT.UN                  21.3774   2.1377   
Canadian Apartment Properties                                               
 REIT                            CAR.UN                  14.5749   1.4574   
Canadian Imperial Bank of                                                   
 Commerce/Canada                 CM                      74.3302   7.4330   
Canadian Oil Sands Trust         COS.UN                  30.7091   3.0709   
Capital Power Income LP          CPA.UN                  17.989    1.7989   
Chartwell Seniors Housing Real                                              
 Estate Investment Trust         CSH.UN                  7.3308    0.7330   
Chemtrade Logistics Income Fund  CHE.UN                  12.9065   1.2906   
CML Healthcare Income Fund       CLC.UN                  12.6698   1.2669   
Cominar Real Estate Investment                                              
 Trust                           CUF.UN                  19.2366   1.9236   
Consumers' Waterheater Income                                               
 Fund/The                        CWI.UN                  5.1833    0.5183   
Crescent Point Energy Corp       CPG                     39.1477   3.9147   
Crombie Real Estate Investment                                              
 Trust                           CRR.UN                  11.9946   1.1994   
Enbridge Inc                     ENB                     48.6927   4.8692   
Enerplus Resources Fund          ERF.UN                  23.985    2.3805   
Fort Chicago Energy Partners LP  FCE.UN                  10.8142   1.0814   
Fortis Inc/Canada                FTS                     28.9909   2.8990   
GAZ Metro LP                     GZM.UN                  16.135    1.6135   
Genivar Income Fund              GNV.UN                  28.0492   2.8049   
Great-West Lifeco Inc            GWO                     28.9553   2.8955   
Groupe Aeroplan Inc              AER                     10.6792   1.0679   
H&R Real Estate Investment Trust HR.UN                   16.8111   1.6751   
Husky Energy Inc                 HSE                     29.2998   2.9299   
IGM Financial Inc                IGM                     44.9106   4.4910   
Inter Pipeline Fund              IPL.UN                  11.8735   1.1873   
Jazz Air Income Fund             JAZ.UN                  4.5228    0.4522   
Just Energy Income Fund          JE.UN                   14.2796   1.4176   
Keyera Facilities Income Fund    KEY.UN                  26.9769   2.6976   
Labrador Iron Ore Royalty Income                                            
 Fund                            LIF.UN                  52.7831   5.2783   
Macquarie Power & Infrastructure                                            
 Income Fund                     MPT.UN                  7.2043    0.7204   
NAL Oil & Gas Trust              NAE.UN                  12.9478   1.2947   
National Bank of Canada          NA                      62.0077   6.2007   
Northern Property Real Estate                                               
 Investment Trust                NPR.UN                  24.3519   2.4351   
Northland Power Income Fund      NPI.UN                  13.3622   1.3362   
Pengrowth Energy Trust           PGF.UN                  11.8073   1.1807   
Penn West Energy Trust           PWT.UN                  21.5967   2.1596   
Peyto Energy Trust               PEY.UN                  13.5908   1.3590   
Power Corp of Canada/Canada      POW                     30.7401   3.0740   
Power Financial Corp             PWF                     33.5968   3.3596   
Provident Energy Trust           PVE.UN                  7.7988    0.7798   
RioCan Real Estate Investment                                               
 Trust                           REI.UN                  18.6323   1.8632   
Rogers Communications Inc        RCI.B                   34.5215   3.4521   
Royal Bank of Canada             RY                      59.4316   5.9431   
Sun Life Financial Inc           SLF                     32.8863   3.2886   
Superior Plus Corp               SPB                     14.1979   1.4197   
TELUS Corp                       T                       37.8397   3.7839   
TMX Group Inc                    X                       29.5742   2.9574   
Toronto-Dominion Bank            TD                      75.2531   7.5253   
TransAlta Corp                   TA                      22.6278   2.2627   
TransCanada Corp                 TRP                     37.3568   3.7356   
Vermilion Energy Trust           VET.UN                  35.4426   3.5442   
Yellow Pages Income Fund         YLO.UN                  6.2058    0.6205   
                                                                            
Convertible Bonds(i)                                                        
Liquor Stores Income Fund        LIQ.DB                  104.7006  106.531  
Western Financial Group Inc      WES.DB                  116.0877  116.284  
                                                                            
(i) Exchange ratio per $1,000 face value                                    
(i) Volume weighed average trading price includes the accrued interest      
payable to, but not including, the Closing Date

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