/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER
UNITED STATES WIRE SERVICES/
TORONTO, Oct. 10 /CNW/ - Faircourt Asset Management Inc., as Manager of
Faircourt Income & Growth Split Trust (TSX: FIG.UN, FIG.PR.A) and Faircourt
Split Trust (TSX: FCS.UN, FCS.PR.A) announces today that in accordance with
the terms of Trust Indentures governing the Preferred Securities and the
maintenance of a minimum 1.4 times asset coverage to be maintained by the
Trusts, dated November 17, 2004 for Faircourt Income & Growth Split Trust and
March 16, 2006 for Faircourt Split Trust, monthly distributions on the Trust
Units (TSX: FIG.UN, FCS.UN) will be suspended until further notice, in order
to protect the Trusts' Net Asset Value and to preserve the Trusts' ability to
rebuild and meet their respective investment objectives in the long term.
This announcement does not affect the quarterly distributions related to
the Preferred Securities of either Trust (TSX: FIG.PR.A, FCS.PR.A).
Both Faircourt Income & Growth Split Trust and Faircourt Split Trust are
designed to provide levered exposure to their portfolios comprised of Income
Trusts, North American Dividend Paying Equities, as well as other income
Acuity Investment Management Inc. is the Investment Advisor for Faircourt
Income & Growth Split Trust.
Faircourt Asset Management Inc. is the Investment Advisor for Faircourt
For further information:
For further information: on the Faircourt Funds, please visit
www.faircourtassetmgt.com or please contact: Charles Taerk, President and CEO
or Douglas Waterson, CFO and Portfolio Manager at (416) 364-8989 or