Communiqués de presse

Preferred Securities Income Fund announces Distribution

June 21, 2004 - Preferred Securities Income Fund (TSX: PFS.UN) announces a distribution for the month ending June 30, 2004 of $0.12 per unit. The distribution will be paid on July 15, 2004 to unitholders of record on June 30, 2004.

For further information, please call Tanya Carey at First Asset Funds Inc. at (416) 642-1289 or 1-877-642-1289.