Faircourt Income & Growth Split Trust Announces Final Terms of the Rights Offering to Unitholders



    /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES/

    TORONTO, July 27 /CNW/ - Faircourt Asset Management Inc., as manager of
Faircourt Income & Growth Split Trust (TSX: FIG.UN, FIG.PR.A, FIG.RT) (the
"Trust") announced today the final terms of the distribution to its
unitholders of rights (the "Rights") exercisable for units ("Units") of the
Trust (the "Rights Offering"). Each Unit consists of one trust unit of the
Trust (a "Trust Unit") and one transferable warrant to acquire a Trust Unit (a
"Warrant"). Each Warrant entitles the holder thereof to purchase one Trust
Unit on, and only on, June 25, 2010 at a subscription price of $4.00. The
distribution is being made pursuant to a short form prospectus dated July 14,
2009. TD Securities Inc. is the dealer manager for the Rights Offering.
    Under the Rights Offering, holders of the Trust Units as of the close of
business on July 22, 2009 received one Right for each Trust Unit held as of
the record date. Each Right will entitle the holder thereof to purchase one
Unit at a subscription price of $2.30. The Rights will expire at 4:00 pm
(Toronto time) on August 27, 2009.
    The Rights Offering included an additional subscription privilege under
which holders of Rights who fully exercise their Rights will be entitled to
subscribe for additional Units, if available, that were not otherwise
subscribed for in the Rights Offering.
    The Trust will use the net proceeds of this issue to increase capital for
investment.
    This news release does not constitute an offer to sell or the
solicitation of an offer to buy any of these securities in the United States.
Securities may not be offered or sold in the United States absent registration
under the United States Securities Act of 1933, as amended, and applicable
state securities laws, or an available exemption from such registration.





For further information:

For further information: on the Faircourt Funds, please visit
www.faircourtassetmgt.com or contact: Charles Taerk, President and 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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