Press Releases

First Asset Funds Inc. Announces November, 2007 Distributions

TORONTO, ONTARIO--(Nov. 21, 2007) - First Asset Funds Inc. announces the following confirmed distributions for the month ending November 30, 2007. In all cases, the distribution will be paid on or before December 14, 2007 to unitholders of record on November 30, 2007.


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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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First Asset
 Yield
 Opportunity
 Trust         FAY.UN       $0.1458     $22.14       7.90%           9.27%
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Preferred
 Securities
 Income Fund   PFS.UN         $0.12     $16.87       8.54%          12.23%
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Preferred
 Securities
 Limited
 Duration Fund                  CAD        CAD
 - Series A    PLD.UN       $0.1042     $17.40       7.19%          10.30%
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Preferred
 Securities
 Limited
 Duration Fund                  USD        USD
 - Series B     PLD.U       $0.0417      $7.20       6.95%           9.96%
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Global 45
 Split Corp.
 - Class A
 Shares           GFV         $0.10     $14.59       8.22%          11.79%
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First Asset
 REIT Income
 Fund          RIT.UN         $0.08     $12.45       7.71%           9.71%
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First Asset
 Income &
 Growth Fund   IGF.UN      $0.05833      $8.41       8.32%           9.76%
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First Asset
 Pipes & Power
 Income Fund   EWP.UN      $0.05833      $7.05       9.93%          11.65%
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First Asset/
 BlackRock
 North
 American
 Dividend
 Achievers(TM)
 Trust         BDA.UN         $0.05      $8.80       6.82%           9.77%
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Split REIT
 Opportunity
 Trust
 - Capital
 Units         SOT.UN       $0.0875     $15.25       6.89%           9.87%
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Utility
 Split Trust
 - Capital
 Units         UST.UN      $0.09688     $11.21      10.37%          14.86%
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(a) As at close on November 19, 2007. (b) Based on trading price as at 
    November 19, 2007.
(C) Estimated - based on Ontario tax rates.

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