Communiqués de presse

First Asset Yield Opportunity Trust Announces Distribution

October 20, 2004 - First Asset Yield Opportunity Trust (TSX: FAY.UN) announces a distribution for the month ending October 31, 2004 of $0.1458 per unit. The distribution will be paid on November 15, 2004 to unitholders of record on October 29, 2004.

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