Faircourt Income & Growth Split Trust results of Warrant exercise

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

TORONTO, June 28 /CNW/ - (TSX: FIG.UN; FIG-W): Faircourt Asset Management Inc., the Manager of Faircourt Income & Growth Split Trust is pleased to announce that approximately 1 million Warrants outstanding have been exercised at an exercise price of $4.00 per Trust Unit for aggregate gross proceeds raised approximating $4 million. Warrants not exercised expired on June 25th, 2010.

%SEDAR: 00021240E

For further information: www.faircourtassetmgt.com or please contact Charles Taerk, President and CEO or Douglas Waterson, CFO & Portfolio Manager at [phone] or 1-800-831-0304