Press Releases

First Asset Pipes & Power Income Fund: Press Release

TORONTO, January 6, 2009 - First Asset Pipes & Power Income Fund (TSX: EWP.UN) (the "Fund") confirms the previously announced distribution of $0.025 per Unit for the month ending December 31, 2008. The distribution 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.