Press Releases

First Asset Energy & Resource Fund Announces Distribution

TORONTO, July 22, 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 July 31, 2008. The distribution will be paid on or before August 15, 2008 to unitholders of record on July 31, 2008.

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