To: upanddown who wrote (4817 ) 11/13/2002 2:59:11 AM From: trustmanic Respond to of 11633 Company Name : Allied Properties Real Estate Investment Trust Company Profile Filing Date : 11/8/2002 Offering : TBD Price : $10.00 per Unit Closing Date : TBD Exchange : TSX Eligibility : British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador Underwriters : Scotia Capital Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., TD Securities Inc., HSBC Securities (Canada) Inc. Associations : Issuer's Law Firm : Aird & Berlis Underwriter's Law Firm : Goodmans Auditor : BDO Dunwoody LLP Transfer Agent : CIBC Mellon Trust Company Business Description : Allied Properties Real Estate Investment Trust is an unincorporated real estate investment trust. On Closing, the REIT will acquire a portfolio of Class I urban office properties located in the downtown Toronto office market, all of which were developed or redeveloped by, and are managed by, Allied Properties, a Toronto-based developer and manager of urban office and other properties. The objectives of the REIT are: (i) to provide Unitholders with stable and growing cash distributions from investments in income-producing office properties in Canada; and (ii) to maximize Unit value through on-going active management of the REIT's assets and the acquisition of additional office properties. Formed in 1988, Allied Properties is a leading operator and manager of restored commercial property in Toronto, led by its President & Chief Executive Officer, Michael R. Emory, and its long-standing and experienced management team. The REIT has retained Allied Properties to serve as property manager of its portfolio. In the Appraisal, the Appraiser estimated the approximate aggregate market value of the Initial Properties and determined the aggregate approximate market value of the Initial Properties as at October 31, 2002 to be $134,850,000. The Appraiser used a range of capitalization rates between 9.0% and 10.75% for each of the Initial Properties. The Appraisal implies an appraised value per square foot for the portfolio of Initial Properties of $166.25, based on a total of 811,104 square feet. Industry Category : Trust Units Company Financials : Fiscal Year-End : December 31 Financials : Initial Properties: Revenue from rental property for the period ended September 30, 2002 - $967,105 Net income for the period ended September 30, 2002 - $149,617 Revenue from rental property for the year ended December 31, 2001 - $1,265,842 Net income for the year ended December 31, 2001 - $156,544