Faircourt Asset Management Inc. Announces Distribution for FIG.UN

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

TORONTO, April 19 /CNW/ - Faircourt Asset Management Inc., as Manager of Faircourt Income & Growth Split Trust (TSX: FIG.UN, FIG.PR.A) announces today that monthly distributions on the Trust Units (TSX: FIG.UN) will be reinstated. The initial annualized monthly distribution rate will be 4.1%, based on the April 16th closing price of the Trust Units, or $0.015 per month per Trust Unit ($0.18 per annum per Trust Unit). The Trust's ability to continue variable distributions will depend on market conditions, the results of the annual redemption, and the Trust's asset coverage levels and will be evaluated by the Manager on a monthly basis.

    
                                Distribution
                        Trading  Amount (per  Ex-Dividend  Record    Payable
    Faircourt Funds     Symbol   Trust Unit)     Date       Date       Date
    -------------------------------------------------------------------------
    Faircourt Income &   FIG.UN     $0.015     April 28,  April 30,   May 6,
     Growth Split Trust                          2010       2010        2010
    

Distributions were suspended in October 2008 in accordance with the terms of Trust Indenture governing the Preferred Securities dated November 17, 2004, which require the maintenance of a minimum 1.4 times asset coverage by the Trust. This announcement does not affect the quarterly distributions related to the Preferred Securities of the Trust (TSX: FIG.PR.A).

Faircourt Income & Growth 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.

Acuity Investment Management Inc. is the Investment Advisor for Faircourt Income & Growth Split Trust.

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%SEDAR: 00021240E

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