Press Releases

First Asset PowerGen Trust III Announces Increased Monthly Distribution

TORONTO, ONTARIO--(CCNMatthews - Jan. 22, 2007) - First Asset PowerGen Trust III (TSX:PGT.UN) announces that the current and expected net income of the Trust supports an increase in the distribution from $0.10 to $0.11 per unit per month ($1.32 per unit per annum). The distribution for the month ending January 31, 2007 will be paid on February 15, 2007 to unitholders of record on January 31, 2007.

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