ADC Enterprises 4 Inc. acquires interest in Assiniboia Farmland Limited Partnership 3



    REGINA, Jan. 30 /CNW/ - ADC Enterprises 4 Inc. ("ADC"), EAI Agricultural
Development Corporation ("EAI"), Doug Emsley and Brad Farquhar announce that
in connection with the closing of the previously announced reorganization of
the Assiniboia Farmland group on January 30, 2009, ADC acquired ownership of
129,884 limited partnership units of Assiniboia Farmland Limited Partnership 3
(the "Units"), EAI acquired ownership of an additional 12,776 Units, Doug
Emsley acquired ownership of 30,475 Units and Brad Farquhar acquired ownership
of 3,679 Units (176,814 Units in aggregate). The Units owned by ADC represent
11.69% of the outstanding Units, the Units owned by EAI (when added to the 200
Units previously owned by EAI) represent 1.17% of the outstanding Units, the
Units owned by Doug Emsley represent 2.74% of the outstanding Units and the
Units owned by Brad Farquhar represent 0.33% of the outstanding Units (15.93%
in aggregate). ADC and EAI are indirectly controlled by Doug Emsley, a
director and the President and Chief Executive Officer of Assiniboia Farmland
GP 3 Corp. ("GP"), the general partner of Assiniboia Farmland Limited
Partnership 3, and his spouse, Tamara Emsley (together with Doug Emsley, the
"Emsleys"), through their indirect control of 85% of the voting securities of
ADC and EAI. Brad Farquhar, the Vice President of the GP, and his spouse,
Lynette Farquhar (collectively, the "Farquhars") indirectly control 15% of the
voting securities of ADC and EAI.
    The Units were acquired at a purchase price per Unit of $25.8401 (the
"Purchase Price"), which Purchase Price was satisfied by ADC, EAI, Doug Emsley
and Brad Farquhar transferring to Assiniboia Farmland Limited Partnership 3
limited partnership units owned in Assiniboia Farmland Limited Partnership,
Assiniboia Farmland Limited Partnership II and Assiniboia Farmland Limited
Partnership 4.
    ADC, EAI, Doug Emsley and Brad Farquhar acquired the Units pursuant to
the reorganization transaction for investment purposes. The Units are not
listed or quoted for trading on a stock exchange. Each of ADC, EAI, the
Emsleys and the Farquhars may in the future take such actions in respect of
their holdings as they may deem appropriate in light of the circumstances then
existing, including the purchase of additional Units or other securities of
Assiniboia Farmland Limited Partnership 3 through privately negotiated
transactions, or the sale of all or a portion of their holdings in privately
negotiated transactions to one or more purchasers.
    ADC, EAI, the Emsleys and the Farquhars may be considered to be joint
actors under applicable securities legislation. However, the issuance of this
press release is not an admission that any entity named in this press release
owns or controls any of the securities described in this press release or is a
joint actor with any other entity named in this press release.
    The acquisition of the Units was carried out in accordance with and in
reliance on the "business combination and reorganization" exemption in section
2.11 of National Instrument 45-106 - Prospectus and Registration Exemptions
which has been adopted by the securities regulatory authorities in all
Provinces of Canada and which exempts the transfer and issue of such
securities from the registration and prospectus requirements of applicable
securities law.

    %SEDAR: 00025696E




For further information:

For further information: Brad Farquhar, Suite 300, 1914 Hamilton Street
Regina, Saskatchewan, S4P 3N6, (306) 347-7202

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Assiniboia Farmland Limited Partnership

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