FIG Unitholders Approve Merger

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

Merger of FIG into FCS to Close September 30, 2010

TORONTO, Sept. 27 /CNW/ - (FIG.UN; FIG.PR.A; FCS.UN; FCS.PR.A) The adjourned special meeting of unitholders of Faircourt Income & Growth Split Trust ("FIG") which was originally held on September 13, 2010 but was adjourned for lack of quorum, was held today at which the unitholders of FIG approved the merger (the "Merger") of FIG into and Faircourt Split Trust ("FCS"), as the continuing fund, as described in the joint management information circular dated August 13, 2010 (the "Circular"). The Merger is expected to occur on or about September 30, 2010.

The Merger is, in part, a response to expected changes in the taxation of income funds. As a result of these changes, there are now an insufficient number of "income funds" for FIG to continue to meet its investment restrictions. Concurrent with the Merger, the investment mandate of FCS, as the continuing trust, will be expanded to remedy this situation and FCS will be able to invest in a broader range of securities and adjust its portfolio in the future as and when required to respond to market movements, as described in the Circular.

For further information: For a copy of the Circular, or for further information, please visit: www.faircourtassetmgt.com or please contact Faircourt Client Service at [phone] or 1-800-831-0304