TORONTO, ONTARIO -- (Marketwire) -- 12/24/12 -- Further to its announcement on December 17, 2012, First Asset Exchange Traded Funds announces that, except as noted below under the heading "Updated Distributions", all of the estimated distributions announced on December 17, 2012 are confirmed as set out in the following table. In all cases, the distribution will be paid on or before January 4, 2013, to unitholders of record on December 28, 2012.

Confirmed Distributions

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                                                                Distribution
                                                       Trading        Amount
                                                        Symbol    (per unit)
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First Asset Can-60 Covered Call ETF                        LXF $      0.1625
                                                    ------------------------
                                                         LXF.A $      0.1438
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First Asset Can-Financials Covered Call ETF                FXF $      0.1250
                                                    ------------------------
                                                         FXF.A $      0.1063
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First Asset Can-Energy Covered Call ETF                    OXF $      0.1500
                                                    ------------------------
                                                         OXF.A $      0.1500
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First Asset Can-Materials Covered Call ETF                 MXF $      0.2000
                                                    ------------------------
                                                         MXF.A $      0.2000
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First Asset Tech Giants Covered Call ETF                   TXF $      0.2000
                                                    ------------------------
                                                         TXF.A $      0.1813
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First Asset Morningstar Canada Dividend Target 30                           
 Index ETF                                                 DXM $      0.0875
                                                    ------------------------
                                                         DXM.A $      0.0688
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First Asset Morningstar National Bank Quebec Index                          
 ETF                                                       QXM $      0.0500
                                                    ------------------------
                                                         QXM.A $      0.0313
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First Asset Morningstar Canada Value Index ETF             FXM $      0.0563
                                                    ------------------------
                                                         FXM.A $      0.0375
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First Asset Morningstar Canada Momentum Index ETF          WXM $      0.0575
                                                    ------------------------
                                                         WXM.A $      0.0388
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First Asset DEX All Canada Bond Barbell Index ETF          AXF $      0.0333
                                                    ------------------------
                                                         AXF.A $      0.0292
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First Asset DEX Corporate Bond Barbell Index ETF           KXF $      0.0354
                                                    ------------------------
                                                         KXF.A $      0.0313
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First Asset DEX Government Bond Barbell Index ETF          GXF $      0.0292
                                                    ------------------------
                                                         GXF.A $      0.0250
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First Asset Morningstar Emerging Markets Composite                          
 Bond Index ETF                                            EXM $      0.0396
                                                    ------------------------
                                                         EXM.A $      0.0354
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Updated Distributions

The previously announced distributions for First Asset Canadian Convertible Bond ETF and First Asset Morningstar US Dividend Target 50 Index ETF have been updated as set out in the following table. The updated distributions consist of the regular monthly or quarterly distribution plus, in each case, an additional amount on account of any net income or capital gains earned during the year. These distributions will be paid on or before January 4, 2013, to unitholders of record on December 28, 2012.

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                                                                    Revised,
                                                     Estimated     Confirmed
                                                  Distribution  Distribution
                                         Trading        Amount        Amount
                                          Symbol    (per unit)    (per Unit)
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First Asset Canadian Convertible Bond                                       
 ETF                                         CXF $      0.0417 $      0.0460
                                      --------------------------------------
                                           CXF.A $      0.0354 $      0.0398
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First Asset Morningstar US Dividend                                         
 Target 50 Index ETF                         UXM $      0.0900 $      0.1365
                                      --------------------------------------
                                           UXM.A $      0.0713 $      0.1178
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This communication is intended for informational purposes only. Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated.