Press Releases

First Asset Distribution Press Release

TORONTO, March 21, 2012 - First Asset announces the following distributions for the month ending March 31, 2012. In all cases, the distribution will be paid on or before April 13, 2012, to holders of record on March 30, 2012.

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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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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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Utility Split Trust - Preferred Shares           UST.PR.B    $0.1458        
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First Asset Diversified Convertible Debenture                               
 Fund                                            DCD.UN      $0.30          
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Preferred Share Investment Trust                 PSF.UN      $0.175         
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First Asset CanBanc Split Corp. - Preferred                                 
 Shares                                          CBU.PR.A    $0.1625        
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CanBanc Income Corp.                             CIC         $0.175         
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Can-60 Income Corp.                              CSY         $0.1625        
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Canadian Advantaged Convertibles Fund            ADC.UN      $0.15          
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Can-Financials Income Corp.                      FIC         $0.175         
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North American Advantaged Convertibles Fund      NCD.UN      $0.125         
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Canadian REIT Income Fund                        RIU.UN      $0.1375        
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First Asset Canadian Dividend Opportunity Fund                              
 II                                              DVF.UN      $0.05891(1)    
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 (1)This distribution includes a pro rated amount for the period from the   
    closing of the Fund's initial public offering (February 17, 2012) to    
    March 31, 2012.

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