Press Releases

First Asset Funds Inc. Announces February, 2008 Distributions

TORONTO, February 20, 2008 - First Asset Funds Inc. announces the following confirmed distributions for the month ending February 29, 2008. In all cases, the distribution will be paid on or before March 14, 2008 to unitholders of record on February 29, 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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First Asset Yield
Opportunity Trust
- Series A FAY.UN $0.1458 $18.68 9.37% 13.42%
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First Asset Yield
Opportunity Trust
- Series B FAY.U USD $0.0440 $5.45 9.69% 13.88%
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Global 45 Split
Corp. - Class A
Shares GFV $0.10 $13.00 9.23% 13.23%
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First Asset REIT
Income Fund RIT.UN $0.07 $11.10 7.57% 10.85%
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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 $6.67 10.49% 12.31%
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First Asset
/BlackRock North
American Dividend
AchieversTM
Trust BDA.UN $0.05 $8.16 7.35% 10.54%
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Split REIT
Opportunity
Trust - Capital
Units SOT.UN $0.0875 $13.38 7.85% 11.25%
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Utility Split
Trust - Capital
Units UST.UN $0.09688 $10.35 11.23% 16.10%
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(a) As at close on February 15, 2008.
(b) Based on trading price as at February 15, 2008.
(c) Estimated - based on Ontario tax rates.

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