Faircourt Asset Management Inc. Announces Distribution for FCS.UN

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

TORONTO, March 9 /CNW/ - Faircourt Asset Management Inc., as Manager of Faircourt Split Trust (TSX: FCS.UN, FCS.PR.A) announces today that monthly distributions on the Trust Units (TSX: FCS.UN) will be reinstated. The initial annualized monthly distribution rate will be 4.7%, based on the March 9th closing price of the Trust Units, or $0.02 per month per Trust Unit ($0.24 per annum per Trust Unit). The Trust's ability to continue variable distributions will depend on market conditions and the Trust's asset coverage levels and will be evaluated on a monthly basis.

    
                              Distribution
                     Trading     Amount     Ex-Dividend   Record   Payable
    Faircourt Funds  Symbol    (per unit)       Date       Date      Date
    ------------------------------------------------------------------------
    Faircourt Split  FCS.UN       $0.02       March 29,  March 31,   April
    Trust                                       2010       2010     8, 2010
    

Distributions were suspended in October 2008 in accordance with the terms of Trust Indenture governing the Preferred Securities which require the maintenance of a minimum 1.4 times asset coverage by the Trust, dated March 16, 2006 for the Trust. This announcement does not affect the quarterly distributions related to the Preferred Securities of the Trust (TSX: FCS.PR.A).

Faircourt Split Trust is designed to provide levered exposure to a portfolio comprised of Income Trusts, North American Dividend Paying Equities, Convertible Debentures, as well as other income generating securities.

Faircourt Asset Management Inc. is the Investment Advisor for Faircourt Split Trust

%SEDAR: 00023268E

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 [phone] or 1-800-831-0304