First National to Host Second Quarter 2010 Results Conference Call on July
28, 2010

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

TORONTO, July 14, 2010 /CNW/ - First National Financial Income Fund (TSX: FN.UN)

    
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    Second Quarter 2010                July 27, 2010 after market close
    Earnings Release
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    Conference Call and Webcast        July 28, 2010 10:00 a.m. EDT
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    Hosted by                          Stephen Smith, Chairman and President
                                       Rob Inglis, Chief Financial Officer
                                       Moray Tawse, Vice President,
                                       Mortgage Investments
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    Participant Numbers                416-644-3416 or 1-877-974-0446
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A question and answer session for analysts and institutional investors will follow management's presentation.

A taped rebroadcast will be available to listeners until 12 a.m. on August 4, 2010. To access the rebroadcast, please dial 416-640-1917 or 1-877-289-8525 and enter passcode 4328717#.

About First National Financial Income Fund

First National Financial Income Fund (TSX: FN.UN) owns a 21% interest in First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single family and multi-unit) and commercial mortgages. With nearly $49 billion in mortgages under administration, First National is Canada's largest non-bank originator and underwriter of mortgages and is among the top three in market share in the growing mortgage broker distribution channel. For more information, please visit www.firstnational.ca.

For further information: Rob Inglis, Chief Financial Officer, First National Financial LP, Tel: [phone], Email: [email protected]; Steve Wallace, Vice President, BarnesMcInerney Inc., Tel: [phone], Email: [email protected]