Faircourt Income & Growth Split Trust Annual Redemption and Payment Date

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO, June 3 /CNW/ - Faircourt Asset Management Inc. (Faircourt), as Manager for Faircourt Income & Growth Split Trust ("FIG" or the "Trust") announces today that it has received requests for redemptions totaling approximately 6.4 million Units of the Trust. Payment will be made on July 22nd, 2010 based on the Net Asset Value per Trust Unit calculated using a three day volume weighted average price for exchange-traded securities held by the Trust, determined as of June 30, 2010 less costs of funding the redemption, including commissions.

The Trust currently has approximately 4.9 million Warrants outstanding, at an exercise price of $4.00 per unit while the current Net Asset Value of the Trust as at the close of business June 2nd is $4.57 or $4.34 on fully diluted basis. The Warrants will expire on June 25th, 2010. Holders of Warrants desiring to exercise Warrants and purchase Units should ensure that subscriptions and payment in full of the Subscription Price are received by the Warrant Agent prior to 4:01 p.m. (Toronto time) on June 25, 2010. Warrants submitted to the Warrant Agent for exercise on June 25, 2010 will be exercised in accordance with the practices and procedures of the Warrant Agent and the applicable CDS Participants.

%SEDAR: 00021240E

SOURCE FAIRCOURT INCOME & GROWTH SPLIT TRUST

For further information: For further information: on Faircourt Income & Growth Split Trust, please visit www.faircourtassetmgt.com or contact Charles Taerk, President & CEO, or Douglas Waterson, CFO and Portfolio Manager at (416) 364-8989 or 1-800-831-0304

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FAIRCOURT INCOME & GROWTH SPLIT TRUST

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Faircourt Asset Management Inc.

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