The net book value of income-producing properties at September 30, 2006 was $49.7 million, compared to $50.9 million at December 31, 2005. The decrease over the nine month period represents depreciation expense, partially offset by minor additions. The $49.7 million represents two properties, situated in Edmonton, Alberta and Toronto, Ontario.

During the third quarter of 2005 the Company completed the sale of two of its income-producing properties, both of which had been identified as assets held for sale during 2005. As a result of these sales the Company had no properties held for sale as at December 31, 2005. The balance of $0.2 million recorded as assets held for sale at December 31, 2005 represented trade accounts receivable balances from the Richmond Hotel Property, which have now been substantially collected by the Company.