Press Releases

First Asset Yield Opportunity Trust: Press Release

TORONTO, Oct. 22, 2008 - First Asset Yield Opportunity Trust (TSX:FAY.UN)(TSX:FAY.U) announces a distribution of $0.1458 per Series A Unit, and US$0.0440 per Series B Unit, for the month ending October 31, 2008. The distributions will be paid on or before November 14, 2008 to unitholders of record on October 31, 2008.

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.