The net book value of income-producing properties at December 31, 2006 was $49.3 million, compared to $50.9 million at December 31, 2005. The decrease over the year represents depreciation expense, partially offset by minor additions. The $49.3 million represents two hotel 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
