Press Releases

First Asset Global Infrastructure Fund Announces Normal Course Issuer Bid for Units

TORONTO, July 18, 2007 - First Asset Global Infrastructure Fund (the "Fund") (TSX: "FAI.UN") announced today acceptance by The Toronto Stock Exchange (the "TSX") of the Fund's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB"). Pursuant to the NCIB, the Fund proposes to purchase, from time to time through the facilities of the TSX, if it is considered advisable, up to 300,000 Units of the Fund, representing approximately 10% of the public float which is the same number as the Fund's issued and outstanding Units, being 3,000,000 Units as of the date hereof. The Fund will not purchase in any given 30-day period, in the aggregate, more than 60,000 Units, being 2% of the issued and outstanding Units as of the date hereof. Purchases of Units under the NCIB may commence on July 20, 2007. The Board of Directors of First Asset Funds Inc., the manager of the Fund, believes that such purchases are in the best interests of the Fund and are a desirable use of the funds of the Fund. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on July 19, 2008.

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