First National Financial Income Fund to Hold Third Quarter 2007 Results Conference Call



    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
    THE U.S./

    TORONTO, Oct. 17 /CNW/ - First National Financial Income Fund
(TSX: FN.UN) ("the Fund") today announced it will hold a conference call and
live audio webcast on Wednesday, October 31, 2007 at 10 a.m. (ET) to discuss
the Fund's financial results for the period ended September 30, 2007.
    A news release announcing the Fund's results will be issued prior to the
call. The call will be hosted by Stephen Smith, President and Chairman, Moray
Tawse, Vice President, Mortgage Investments, and Rob Inglis, Vice President,
Finance. Following management's presentation, there will be a question and
answer session for analysts and institutional investors.
    To participate in the teleconference, please call 416-644-3417 or
1-800-733-7571. To access the live audio webcast, please visit First
National's web site at www.firstnational.ca.
    The webcast will also be archived on the site. A taped rebroadcast will
be available to listeners following the call until 12 a.m. (ET) on November 7,
2007. To access the rebroadcast, the numbers are 416-640-1917 or
1-877-289-8525 and the passcode is 21247425 followed by the number sign.

    About First National Financial Income Fund

    First National Financial Income Fund (TSX: FN.UN) owns a 19.97 per cent
interest in First National Financial LP, a Canadian-based originator,
underwriter and servicer of predominantly prime residential (single family and
multi-unit) and commercial mortgages. With more than $28 billion in mortgages
under administration, First National is Canada's largest non-bank originator
and underwriter of residential mortgages and is among the top three in market
share in the growing mortgage broker distribution channel. For more
information, please visit www.firstnational.ca.





For further information:

For further information: Rob Inglis, Vice President, Finance, First
National Financial LP, Tel: (416) 593-1100, Email:
rob.inglis@firstnational.ca; Danna Broadworth, Account Executive,
BarnesMcInerney Inc., Tel: (416) 367-5000, Email:
dbroadworth@barnesmcinerney.com


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