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First Asset Distribution Press Release

TORONTO, October 20, 2011 - First Asset announces the following distributions for the month ending October 31, 2011. In each case, the distribution will be paid on or before November 15, 2011, to unitholders of record on October 31, 2011.


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                                                         Distribution Amount
Name                                          TSX Symbol          (per unit)
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First Asset Yield Opportunity Trust - Series A    FAY.UN             $0.1458
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First Asset Yield Opportunity Trust - Series B     FAY.U        $0.044 (USD)
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First Asset REIT Income Fund                      RIT.UN               $0.05
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First Asset Pipes & Power Income Fund             EWP.UN               $0.03
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Split REIT Opportunity Trust - Capital Units      SOT.UN              $0.045
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Utility Split Trust - Capital Units               UST.UN               $0.05
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Triax Diversified High-Yield Trust                TRH.UN               $0.07
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First Asset Canadian Dividend Opportunity Fund    DOF.UN               $0.05
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For further information, please contact Rob MacNiven, Investor Relations at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.