First National AlarmCap Income Fund Announces Resignation of Chief Executive Officer

    CALGARY, Oct. 21 /CNW/ - First National AlarmCap Income Fund
(TSX: FNA.UN) (the "Fund") announced today that Mr. Leonard Sudermann has
tendered his resignation as President and Chief Executive Officer of the Fund,
effective immediately. Mr. Sudermann will be staying on as a member of the
board of trustees of the Fund (the "Board").
    The Board thanks Mr. Sudermann for his service to the Fund.
    The Fund expects to hire a new CEO within the next three months. The
board is working closely with senior management to effect an orderly

    The Fund indirectly owns and operates Microtec, one of Canada's largest
security alarm sales, installation and monitoring companies. The Fund also
indirectly owns Securex, a leading alternative credit provider which offers
bundled financial, billing/back office and monitoring services to independent
dealers throughout Canada.
    Information about First National AlarmCap Income Fund can be found at

For further information:

For further information: Donald H. McPherson, Chairman, First National
AlarmCap Income fund, TEL: (403) 218-6375, E-mail:

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