First Asset announced that the special distribution announced on December 18, 2013 in respect of First Asset Canadian REIT Income Fund has been revised. The estimated special distribution per unit in cash was $0.21. Now the revised and confirmed special distribution per unit in cash will be $0.198 payable on or before January 15, 2014 to holders of record on December 31, 2013.

The special distribution is confirmed and will be paid in cash and in units. One-quarter will be paid in cash, and the balance will be paid by the issuance of units of the fund, and immediately thereafter, the issued and outstanding capital of the fund will be consolidated such that the number of issued and outstanding units of the fund does not change. As a result, the net asset value per unit of the fund will decrease by an amount equal to the cash portion of the special distribution.

The cash portion of the special distribution is intended to cover the maximum tax liability for capital gains for unit holders in the high marginal tax bracket (premised on the special distribution being comprised of capital gains).