Press Releases

First Asset Equal Weight Pipes & Power Income Fund Announces Distribution For February

TORONTO, February 21, 2005 - First Asset Equal Weight Pipes & Power Income Fund (TSX: EWP.UN) announces a distribution for the month ending February 28, 2005 of $0.0230 per unit. This distribution reflects a partial period from February 17, 2005 (the closing date of the offering) to February 28, 2005. The distribution will be paid on March 15, 2005 to unitholders of record on February 28, 2005.

For further information, please call Tanya Carey at First Asset Funds Inc. at (416) 642-1289 or 1-877-642-1289.