Press Releases

New Millennium Technology Trust Announces Results of Special Unitholder Meeting

TORONTO, May 2, 2007- New Millennium Technology Trust (the "Trust") (TSX: NMT.UN) announces that at the adjourned special meeting of the unitholders of the Trust held today, Unitholders approved amendments to the trust agreement to: (i) amend the investment objectives, strategy and restrictions of the Trust so that the Trust may invest on an actively managed basis in a diversified portfolio consisting of a broad range of investment opportunities, including natural resources issuers; (ii) change the fees payable by the Trust, including increasing the Manager's annual fee to 2.00% of the net asset value of the Trust and adding a performance-based incentive fee; (iii) authorize the Trust to use leverage as part of the investment strategy, up to a maximum of 300% of the net asset value of the Trust; (iv) authorize the Trust to use derivatives for hedging and non-hedging purposes; (v) amend the annual and monthly redemption rights, including the amounts payable on the surrender of units of the Trust for redemption; (vi) change the name of the Trust to First Asset Opportunity Fund to reflect the new mandate; (vii) 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 (viii) amend the termination provisions of the Trust. These amendments are more fully described in the Management Information Circular dated March 26, 2007.

In connection with the name change to First Asset Opportunity Fund, the Trust will change its ticker symbol to FAF.UN upon obtaining the approval of the TSX.

For more information, please call Paul Dinelle (Executive Vice-President) or Robert MacNiven (Investor Relations) at First Asset Investment Management Inc., at (416) 642-1289 or (877) 642-1289.