First Asset Equal Weight REIT Income Fund Announces Completion of Rights Offering

Thu Feb 15, 10:49 AM

TORONTO, ONTARIO--(CCNMatthews - Feb. 15, 2007) - First Asset Equal Weight REIT Income Fund (TSX: RIT-UN.TO) announces that it has completed the offering of rights pursuant to the short form prospectus dated January 9, 2007. The offering was over-subscribed and accordingly the maximum of 2,923,706 Units were issued for gross proceeds of approximately $36.5 million. The Fund will use the net proceeds of the offering to acquire, in the open market, securities of real estate investment trusts in accordance with the Fund's investment policies and restrictions.

Contacts

Paul Dinelle
First Asset Funds Inc.
Executive Vice-President
(416) 642-1289 or 1-877-642-1289

Rob MacNiven
First Asset Funds Inc.
Investor Relations
(416) 642-1289 or 1-877-642-1289
Website: www.firstassetfunds.com