Press Releases

First Asset Yield Opportunity Trust: Press Release

TORONTO, January 6, 2009 - First Asset Yield Opportunity Trust (TSX: FAY.UN and FAY.U) (the "Fund") confirms the previously announced distribution of $0.1458 per Series A Unit, and US $0.0440 per Series B Unit, for the month ending December 31, 2008. The distributions will be paid on or before January 15, 2009 to unitholders of record on December 31, 2008.

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