REDBOURNE - BACKGROUND AND EXPERIENCE The Redbourne Group was formed in 1995 by Peter Coughlin and Norman Spencer. The Company evolved from the real estate and asset management arm of the Claridge Group in Montreal, Canada. Redbourne's initial client list, along with Claridge, including major Canadian and U.S. financial institutions, large real estate funds and high net worth individuals. In 1996, André Shareck joined Redbourne from the National Bank of Canada where he had been a senior member in the real estate lending group. The principals of Redbourne obtained a great deal of experience in the North American commercial real estate marketplace prior to forming the Company. Before 1995 they were actively involved in managing a major real estate investment company with assets across Canada and the United States. The company held significant holdings in Toronto, New York, Calgary, Boston and the U.S. Mid-West. The principals of Redbourne have a multi-disciplined real estate background that includes residential, industrial, office and retail management and development. Redbourne uses its in-depth local market knowledge to formulate a concise strategy for each investment – from managing and leasing the project, to assessing its market value and knowing when to sell. Redbourne currently manages in excess of 3.7 million square feet of real estate with a market valuation of approximately $400 million. Redbourne employs approximately 60 people including property managers, leasing agents, lawyers and property accountants. As a market leader, Redbourne has made significant investments in computer and property management infrastructure to ensure the highest quality management and financial reports.