Press Releases

Preferred Securities Limited Duration Fund Announces Distributions

May 19, 2004 - Preferred Securities Limited Duration Fund announces a distribution for the month ending May 31, 2004 of CDN $0.1042 per Series A unit (TSX: PLD.UN) and of US $0.0417 per Series B unit (TSX: PLD.U). In both series, the distribution will be paid on June 15, 2004 to unitholders of record on May 31, 2004.

For further information, please call Tanya Carey at First Asset Funds Inc. at (416) 642-1289 or 1-877-642-1289.