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First Asset Announces March, 2008 Distributions

TORONTO, March 19, 2008 - First Asset announces the following confirmed distributions for the month and quarter ending March 31, 2008. In all cases, the distribution will be paid on or before April 15, 2008 to unitholders of record on March 31, 2008.


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Name                  TSX  Distribution       TSX  Annualized       Pre-Tax
                   Symbol        Amount   Trading    Yield (b)     Interest
                              (per unit) Price (a)            Equivalent (c)
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                                  MONTHLY
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First Asset Yield
 Opportunity Trust
 - Series A        FAY.UN       $0.1458    $18.11       9.66%        13.85%
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First Asset Yield
 Opportunity Trust                  USD       USD
 - Series B         FAY.U       $0.0440     $5.57       9.48%        13.58%
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Global 45 Split
 Corp.
 - Class A Shares     GFV         $0.10    $12.35       9.72%        13.92%
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First Asset REIT
 Income Fund       RIT.UN         $0.07    $10.10       8.32%        11.92%
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First Asset Income
 & Growth Fund     IGF.UN      $0.05833     $8.00       8.75%        11.59%
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First Asset Pipes
 & Power
 Income Fund       EWP.UN      $0.05833     $6.73      10.40%        12.20%
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First Asset/
 BlackRock North
 American Dividend
 Achievers(TM)
 Trust             BDA.UN         $0.05     $7.44       8.06%        11.56%
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Split REIT
 Opportunity
 Trust - Capital
 Units             SOT.UN       $0.0875    $12.50       8.40%        12.04%
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Utility Split
 Trust
 - Capital Units   UST.UN      $0.09688    $10.80      10.76%        15.43%
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                                QUARTERLY
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Global 45 Split
 Corp.
 - Preferred
 Shares          GFV.PR.A      $0.13125    $10.17       5.16%        7. 40%
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Split REIT
 Opportunity
 Trust
 - Preferred
 Securities      SOT.PR.A      $0.14375    $10.20       5.64%         5.64%
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Utility Split
 Trust
 - Preferred
 Securities      UST.PR.A         $0.15    $10.30       5.83%         5.83%
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First Asset
 Diversified
 Convertible
 Debenture Fund    DCD.UN         $0.30    $17.20       6.98%        10.00%
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First Asset Global
 Infrastructure
 Fund              FAI.UN         $0.15     $8.00       7.50%          n/a
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(a) As at close on March 17, 2008.
(b) Based on trading price as at March 17, 2008.
(c) Estimated - based on Ontario tax rates.

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