Press Releases

First Asset: Press Release

TORONTO, January 16, 2009 - The Manager1 of each of the funds listed below announces that certain annual management reports of fund performance for the yearended December 31, 2007 ("Annual MRFPs"), and certain interim management reports of fund performance for the period ended June 30, 2008 ("Interim MRFPs") have been revised and re-filed at the request of the Ontario Securities Commission (the "OSC"). The revisions relate primarily to certain deficiencies identified by the OSC in the course of its Continuous Disclosure Review. In each Manager's opinion, the deficiencies that were corrected did not result in a misstatement of a material fact or reflect the omission of a material fact in any of the continuous disclosure filings.


Fund                                          Ticker    Revised Reports
----                                          ------    ---------------
First Asset Diversified Convertible           DCD.UN    - Annual MRFP
 Debenture Fund                                         - Interim MRFP

First Asset Global Infrastructure Fund        FAI.UN    - Annual MRFP

First Asset REIT Income Fund                  RIT.UN    - Annual MRFP

First Asset Yield Opportunity Trust,          FAY.UN    - Annual MRFP
 Series A                                               - Interim MRFP

First Asset Yield Opportunity Trust,          FAY.U     - Annual MRFP
 Series B                                               - Interim MRFP

Global 45 Split Corp.                         GFV       - Annual MRFP
                                              GFV.PR.A  - Interim MRFP

Unitholders can obtain copies of the revised reports, free of charge, by calling (416) 642-1289 or 1-877-642-1289, by emailing info@firstasset.com, or by visiting each fund's website at www.firstasset.com or on SEDAR at www.sedar.com.


1 First Asset Investment Management Inc. in the case of First Asset Diversified Convertible Debenture Fund, and First Asset Funds Inc. in the case of the other funds.