December 30, 2009 – First Asset Global Infrastructure Fund (“FAI”) announced the completion of its merger with Criterion Water Infrastructure Fund (the “Water Infrastructure Fund”).

The merger was accomplished on a taxable basis for unitholders of FAI. Each issued and outstanding unit of FAI received 0.95348 Class D Units of the Water Infrastructure Fund in connection with the merger.

The exchange ratio was determined by dividing (i) the net asset value per unit of FAI as at the close of business on December 29, 2009 (i.e. $6.23380 per Unit) by (ii) net asset value per Class D unit of the Water Infrastructure Fund as at the close of business on December 29, 2009 (i.e. $6.53792 per Unit).