Communiqués de presse

North American Advantaged Convertibles Fund: Distribution Press Release

TORONTO, September 21, 2011 - North American Advantaged Convertibles Fund (the "Fund") (TSX: NCD.UN) announces a distribution of $0.1836 per Unit for the quarter ending September 30, 2011. The distribution will be paid on or before October 14, 2011 to unitholders of record on September 30, 2011. This distribution includes a pro rated amount for the period from the closing of the Fund's initial public offering on May 20, 2011 to June 30, 2011.

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