Press Releases

Preferred Securities Limited Duration Fund Announces Distributions

June 21, 2004 - Preferred Securities Limited Duration Fund announces a distribution for the month ending June 30, 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 cases , the distribution will be paid on July 15, 2004 to unitholders of record on June 30, 2004.

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