Press Releases

Split REIT Opportunity Trust Announces Completion of Merger

TORONTO, January 4, 2012 Split REIT Opportunity Trust (the "Fund") announces the completion of its merger with Criterion REIT Income Fund ("Criterion REIT").

Each issued and outstanding Capital Unit of the Fund received 1.52 Class A (Initial Sales Charge) Units of Criterion REIT in connection with the merger. The exchange ratio was determined by dividing (i) the net asset value per Capital Unit of the Fund as at the close of business on January 3, 2012 (i.e. $18.50 per Unit) by (ii) net asset value per Class A (Initial Sales Charge) Unit of Criterion REIT as at the close of business on January 3, 2012 (i.e. $12.17 per Unit).

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