Press Releases

First Asset Funds Inc. Announces April, 2005 Distributions

TORONTO, April 20, 2005 - First Asset Funds Inc. announces the following confirmed distributions for the month ending April 30, 2005. In all cases, the distribution will be paid on or before May 13, 2005 to unitholders of record on April 29, 2005.

Fund /Trust TSX
Trading
Symbol
Distribution
Amount
(per unit)
Distribution
Amount
Annualized
TSX
trading
price per
unit as at
Apr 18/05
Annualized
Yield
based on
trading
price as at
Apr 18/05)
Pre-Tax
Interest
Equivalent
(based on
Ontario
tax rates)
First Asset Yield Opportunity FAY.UN $0.1458 $1.7496 $24.70 7.08% 10.15%
Preferred Securities Income Fund PFS.UN $0.12 $1.44 $20.95 6.87% 9.85%
Preferred Securities Limited Duration Fund - Series A PLD.UN $0.1146 $1.3752 $21.09 6.52% 9.34%
Preferred Securities Limited Duration - Series B PLD.U US
$0.0458
US
$0.5496
US
$8.75
6.28% 9.00%
Global 45 Split Corp. - Class A GFV $0.10 $1.20 $13.00 9.23% 13.23%
First Asset Equal Weight REIT Income Fund RIT.UN $0.0625 $0.75 $9.14 8.21% 11.76%
First Asset Equal Weight Pipes & Power Income Fund EWP.UN $0.0580 $0.696 $9.45 7.37% 10.55%

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