Faircourt Split Trust Announces Annual Redemption

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

TORONTO , Oct. 6 /CNW/ - Faircourt Asset Management Inc., the Manager of Faircourt Split Trust (the "Trust") (TSX: FCS.UN; FCS.PR.A), announces today that Securityholders who tendered their Combined Units ("consists of one Trust Unit and one Preferred Security") for redemption on September 30, 2009 will be entitled to receive $14.4632 per Combined Unit, which is equal to $4.4285, being the Net Asset Value per Trust Unit calculated using a three day volume weighted average price for exchange-traded securities held by the Trust, determined as of September 30, 2009 less costs of funding the redemption, including commissions, plus the $10.00 principal amount of the Preferred Security, plus all accrued and unpaid interest hereon to but excluding the Payment Date. Payment will be made in full on October 22, 2009 (the "Payment Date").

In connection with the annual redemption of the Trust, 81,700 Trust Units were submitted for redemption without matching Preferred Securities. Unitholders who submitted unmatched Trust Units will receive $4.1785 per Trust Unit ($4.4285 Net Asset Value per Trust Unit less the $0.2500 call premium on the Preferred Securities). Payment will be made in full on October 22, 2009 (the "Payment Date").

%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 & Portfolio Manager at [phone] or 1-800-831-0304