Press Releases

First Asset Energy & Resource Fund Announces Distribution

TORONTO, February 20, 2008 - First Asset Energy & Resource Fund (TSX: TRF.UN) announces a distribution of $0.1040 per unit per month ($1.25 per unit per annum) for the month ending February 29, 2008. The distribution will be paid on March 14, 2008 to unitholders of record on February 29, 2008.

For further information, please contact Rob MacNiven, Investor Relations at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.