Press Releases

Triax CaRTS III Trust (TSX: TXZ.UN) results of special unitholder meeting

TORONTO, Oct. 16 /CNW/ - Triax CaRTS III Trust (the "Trust") announces that Unitholders have approved an extraordinary resolution authorizing all such amendments to the Trust Agreement as are, in the opinion of the trustee of the Trust, necessary or desirable to: (i) amend the investment objectives, strategy and restrictions of the Trust so that the Trust may invest on an actively managed basis in power generation and related energy infrastructure assets (the "Conversion"); (ii) provide an additional redemption right at 100% of the Trust's net asset value per unit exercisable immediately following the implementation of the Conversion and thereafter change the right to redeem units of the Trust from redemption at net asset value to redemption based on market value; (iii) issue additional units in the Trustee's sole discretion; (iv) amend the termination provisions of the Trust; (v) change the fees payable by the Trust, including reducing the Manager's base fee to 1.00% and adding a performance based incentive fee; (vi) make certain amendments to the Trust Agreement to allow for more efficient management of the Trust and conform the Trust with current regulatory requirements and industry practices, and (vii) to change the name of the Trust to First Asset PowerGen Trust III, all as more fully described in the Management Information Circular dated August 31, 2006.

Further details concerning the timing of implementing the foregoing will be outlined in a separate press release which will be issued shortly.

The resolutions with respect to the proposed merger and the termination of the trust by the Trustee were not approved.

For further information: please call Paul Dinelle, Executive Vice-President, at (416) 362-2929 or 1-800-407-0287.