Communiqués de presse

First Asset Yield Opportunity Trust: Press Release

TORONTO, May 20, 2009 - First Asset Yield Opportunity Trust (TSX: FAY.UN and FAY.U) announces a distribution of $0.1458 per Series A Unit, and US$0.0440 per Series B Unit, for the month ending May 31, 2009. The distributions will be paid on or before June 12, 2009 to unitholders of record on May 29, 2009.

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