Communiqués de presse

First Asset Canadian Dividend Opportunity Fund II Announces Exercise of Over-Allotment Option

TORONTO, March 15, 2012 - First Asset Canadian Dividend Opportunity Fund II (the "Fund") (TSX:DVF.UN) announces that the Fund's syndicate of agents for its initial public offering has exercised its over-allotment option and acquired an additional 150,000 units of the Fund (the "Units"). In total, the Fund issued 6,150,000 Units pursuant to its initial public offering, yielding gross proceeds of $61,500,000. The Units are listed on the Toronto Stock Exchange ("TSX") under the symbol DVF.UN.

The syndicate of agents for this offering was led by CIBC, co-led by National Bank Financial Inc. and RBC Capital Markets, and included TD Securities Inc., BMO Capital Markets, Scotia Capital Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Dundee Securities Ltd. and Macquarie Private Wealth Inc.

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