Press Releases

First Asset Funds Inc. Announces July, 2005 Distributions

TORONTO, July 20, 2005 - First Asset Funds Inc. announces the following confirmed distributions for the month ending July 31, 2005. In all cases, the distribution will be paid on or before August 15, 2005 to unitholders of record on July 29, 2005.
Name TSX
Symbol
Distribution
Amount
(per unit)
TSX
trading
price per
(July 18/05)
Annualized
Yield*
Pre-Tax
Interest
Equivalent**
First Asset Yield Opportunity FAY.UN $0.1458 $24.42 7.16% 10.27%
Preferred Securities Income Fund PFS.UN $0.12 $21.35 6.74% 9.67%
Preferred Securities Limited Duration Fund - Series A PLD.UN $0.1146 $21.20 6.49% 9.30%
Preferred Securities Limited Duration - Series B PLD.U US
$0.0458
US
$8.51
6.46% 9.26%
Global 45 Split Corp. - Class A GFV $0.10 $12.65 9.49% 13.59%
First Asset Equal Weight REIT Income Fund RIT.UN $0.0625 $10.13 7.40% 9.33%
First Asset Equal Weight Pipes & Power Income Fund EWP.UN $0.05833 $9.22 7.59% 8.91%
First Asset Equal Weight Small-Cap Income Fund FAS.UN $0.06708 $9.00 8.94% 10.11%
* Based on trading price as at July 18, 2005 ** Estimated. Based on Ontario tax rates

For further information, please call Tanya Carey, Investor Relations, First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289, or visit www.firstassetfunds.com.