Press Releases

First Asset Funds Inc. Announces April, 2008 Distributions

TORONTO, ONTARIO (April 21, 2008) - First Asset Funds Inc. announces the following confirmed distributions for the month ending April 30, 2008. In all cases, the distribution will be paid on or before May 15, 2008 to unitholders of record on April 30, 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       FAY.UN       $0.1458    $19.21       9.11%        13.05%
 Trust - Series A
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First Asset Yield
 Opportunity        FAY.U           USD     $5.70       9.26%        13.28%
 Trust - Series B                 $0.0440
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Global 45 Split
 Corp. - Class        GFV         $0.10    $12.20       9.84%        14.10%
 A Shares
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First Asset REIT
 Income Fund       RIT.UN         $0.07    $10.71       7.84%        10.90%
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First Asset
 Income & Growth   IGF.UN      $0.05833     $8.43       8.30%        11.18%
 Fund
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First Asset Pipes
 & Power           EWP.UN      $0.05833     $6.90      10.14%        12.78%
 Income Fund
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First Asset/
 BlackRock North
 American          BDA.UN         $0.05     $7.59       7.91%        11.33%
 Dividend
 Achievers(TM)
 Trust
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Split REIT
 Opportunity       SOT.UN       $0.0875    $13.26       7.92%        11.35%
 Trust - Capital
 Units
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Utility Split
 Trust - Capital   UST.UN      $0.09688    $10.73      10.83%        14.59%
 Units
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(a) As at close on April 17, 2008. (b) Based on trading price as at
    April 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.