For the year ended December 31, 2006, the Statements of Earnings and of Cash Flows comprise the results from the Company’s two hotel properties. For the year ended December 31, 2005 they comprise the results from three of the Company’s four hotels, with one of the hotels previously listed for sale, the Richmond Hotel Property, being excluded from "continuing operations", and included in results from "discontinued operations" as a separate element of income or loss for the prior period. Due to continued significant involvement in the Vancouver Hotel Property, previously recorded as held for sale and sold during the third quarter of 2005, the results of operations and cash flows for that property up to the date of sale remained in continuing operations.

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