Press Releases

First Asset/BlackRock North American Dividend Achievers<sup>TM</sup> Trust Announces Normal Course Issuer Bid for Units

Toronto, December 19, 2005 - First Asset/BlackRock North American Dividend AchieversTM Trust (the "Trust") (TSX: BDA.UN) announced today acceptance by The Toronto Stock Exchange (the "TSX") of the Trust's Notice of Intention to commence a Normal Course Issuer Bid (the "NCIB"). Pursuant to the NCIB, the Trust proposes to purchase, from time to time, if it is considered advisable, up to 501,500 Units of the Trust, representing approximately 10% of the public float of the Units of 5,015,000 as of the date hereof, on the TSX commencing December 21, 2005. As of the date hereof, there are 5,015,000 Units issued and outstanding. First Asset Funds Inc., the manager of the Trust, believes that such purchases are in the best interests of the Trust and are a desirable use of the Trust's funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Units purchased by the Trust pursuant to the NCIB will be cancelled. The NCIB will expire on December 20, 2006. There have been no previous purchases of Units by the Trust.

For further information, please contact Jeff Labenski, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289, or visit www.firstassetfunds.com.

Dividend AchieversTM is a trademark of Mergent, Inc. and has been licensed for use by the Trust. The product is not sponsored, endorsed, sold or promoted by Mergent and Mergent makes no representation regarding the advisability of investing in the Trust.