Communiqués de presse

First Asset: Distribution Press Release

TORONTO, July 20, 2011 - First Asset announces the following distributions for the month ending July 31, 2011. In all cases, the distribution will be paid on or before August 12, 2011, to unitholders of record on July 29, 2011.

                                                          TSX         Amount
Name                                                   Symbol     (per unit)
First Asset Yield Opportunity Trust - Series A         FAY.UN        $0.1458
First Asset Yield Opportunity Trust - Series B          FAY.U         $0.044
First Asset REIT Income Fund                           RIT.UN          $0.05
First Asset Pipes & Power Income Fund                  EWP.UM          $0.03
Split REIT Opportunity Trust - Capital Units           SOT.UN         $0.045
Utility Split Trust - Capital Units                    UST.UN          $0.05
Triax Diversified High-Yield Trust                     TRH.UN          $0.07
First Asset Canadian Dividend Opportunity Fund         DOF.UN          $0.05

For further information, please call Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit