Communiqués de presse

Preferred Share Investment Trust: Press Release

TORONTO, January 6, 2010 - Preferred Share Investment Trust (TSX: PSF.UN) announces a confirmed distribution of $0.175 per Unit for the quarter ending December 31, 2009. This distribution is $0.025 lower than the estimated distribution announced in December due to the fact that the Trust realized less taxable capital gains than estimated. The distribution will be paid on or before January 15, 2010 to unitholders of record on December 31, 2009.

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