Press Releases

First Asset Funds Inc. Announces March, 2005 Distributions

TORONTO, March 21, 2005 - First Asset Funds Inc. announces the following confirmed distributions for the month and quarter ending March 31, 2005. In all cases, the distribution will be paid on or before April 15, 2005 to unitholders of record on March 31, 2005.

Fund /Trust TSX
Trading
Symbol
Distribution
Amount
(per unit)
Distribution
Amount
Annualized
TSX
trading
price per
unit as at
Mar 17/05
Annualized
Yield
based on
trading
price as at
Mar 17/05)
Pre-Tax
Interest
Equivalent
(based on
Ontario
tax rates)
MONTHLY
First Asset Yield Opportunity FAY.UN $0.1458 $1.7496 $25.55 6.85% 9.81%
Preferred Securities Income Fund PFS.UN $0.12 $1.44 $21.25 6.78% 9.71%
Preferred Securities Limited Duration Fund - Series A PLD.UN $0.1146 $1.3752 $21.25 6.47% 9.27%
Preferred Securities Limited Duration - Series B PLD.U US
$0.0458
US
$0.5496
US
$9.20
5.97% 8.56%
Global 45 Split Corp. - Class A GFV $0.10 $1.20 $13.11 9.15% 13.12%
First Asset Equal Weight REIT Income Fund RIT.UN $0.0625 $0.75 $9.65 7.77% 11.14%
First Asset Equal Weight Pipes & Power Income Fund EWP.UN $0.0580 $0.696 $9.75 7.14% 10.23%
QUARTERLY
Global 45 Split Corp. - Preferred Shares GFV.PR.A $0.13125 $0.525 $10.65 4.93% 7.06%

For more information, please call Tanya Carey at First Asset Funds Inc. at 416-642-1289 or 1-877-642-1289, or visit www.firstassetfunds.com.