Communiqués de presse

First Asset Energy & Resource Fund Announces Distribution

TORONTO, January 22, 2008 - First Asset Energy & Resource Fund (TSX: TRF.UN) announces a distribution of $0.1040 per unit per month ($1.25 per unit per annum) for the month ending January 31, 2008. The distribution will be paid on February 15, 2008 to unitholders of record on January 31, 2008.

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