Payout Performers Income Fund and First Asset/BlackRock North American Dividend Achievers(TM) Trust Announce Exchange Ratio
TORONTO, September 27, 2007 - Payout Performers Income Fund (TSX: PPF.UN) ("PPF") and First Asset/BlackRock North American Dividend AchieversTM Trust (TSX: BDA.UN) ("BDA") announced that each unit of PPF will be entitled to receive 0.9051 units of BDA upon the redemption of the units of PPF to be completed immediately following the merger of PPF into BDA on Friday, September 28, 2007.
The exchange ratio was determined by dividing (i) the net asset value per unit of PPF as at the close of business on September 27, 2007 (i.e. $9.06 per Unit) by (ii) net asset value per unit of BDA as at the close of business on September 27, 2007 (i.e. $10.01 per Unit).
For further information, please call Rob MacNiven, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.
Dividend AchieversTM is a trademark of Mergent, Inc. and has been licensed for use by BDA. BDA is not sponsored, endorsed, sold or promoted by Mergent and Mergent makes no representation regarding the advisability of investing in BDA.