Press Releases

First Asset Energy & Resource Fund Announces Distribution

TORONTO, September 19, 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 September 30, 2008. The distribution will be paid on or before October 15, 2008 to unitholders of record on September 30, 2008.

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