Communiqués de presse

First Asset Yield Opportunity Trust Announces Completion of Offering of Rights to Subscribe for Series A Units

TORONTO, March 6, 2012 - First Asset Yield Opportunity Trust (TSX: FAY.UN; FAY.U) (the "Fund") announces that it has completed the offering of rights pursuant to the short form prospectus dated January 20, 2012. The offering was over-subscribed and accordingly the maximum of 721,246 Series A Units were issued for net proceeds of approximately $9.7 million, after deducting expenses of the offering. The proceeds of the offering will provide the Fund with additional capital that can be used to capitalize on attractive investment opportunities, and it is also expected to increase the trading liquidity of its units and reduce the management expense ratio of the Fund.

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