First Closing May 7th - ONE Financial Real Property Development & Income Balanced Offering (2008-1)



    TORONTO, April 30 /CNW/ - ONE Financial Corporation ("ONE Financial") is
pleased to announce that a prospectus (the "prospectus") has been filed with,
and a receipt therefor issued by, the securities regulators in each of the
provinces and territories across Canada for the initial public offering of the
ONE Financial Real Property Development & Income Balanced Offering (2008-1)
(the "Offering"), consisting of one unit of the ONE Financial Real Property
Development Trust (2008-1) (the "Development Trust") and one unit of the ONE
Financial Real Property Income Fund (2008-1) (the "Income Fund") (together a
"Combined Unit"). The offering price is $25.00 per Combined Unit, consisting
of $15.00 per Development Trust Unit and $10.00 per Income Fund Unit, and the
minimum purchase quantity is 100 units ($2,500). Subsequent to the closing of
the Offering, the Development Trust and the Income Fund (together the
"Issuers") will purchase securities of the ONE Financial Real Property
Development & Income Balanced L.P. (2008-1) ("ONE Financial LP") and ONE
Financial LP will engage in the business of acquiring, developing or
improving, operating, and where appropriate, selling a diversified portfolio
of high quality income producing commercial (primarily office and retail)
and/or residential real estate properties in primarily urban Canadian markets.
    ONE Financial Corporation is the promoter and ONE Financial LP has
engaged ONE Financial Global Real Estate Advisors Inc. to be the Manager with
the responsibility of identifying and executing ONE Financial LP's investment
and development activities.
    Units of both the Development Trust and Income Fund are intended to
qualify as mutual fund trusts under the Income Tax Act (Canada) and as such
will be qualified investments under the Income Tax Act (Canada) for registered
retirement savings plans (RRSPs), Registered Retirement Income Funds (RRIFs),
Registered Educational Savings Plans (RESPs), Deferred Profit-Sharing Plans
(DPSPs) and Tax-Free Savings Accounts (TFSAs).
    The Offering is being made through a syndicate of investment dealers that
is led by Research Capital Corporation and will be available for purchase
until June 25, 2009. Investment in this product is also available on a private
placement basis to accredited investors and others pursuant to an Offering
Memorandum. For more information please contact the Issuers directly at
1.866.360.7888.

    Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those identified by
the expressions "expect", "intend", "will" and similar expressions to the
extent they relate to the Offering. The forward-looking statements are not
historical facts but reflect current expectations regarding future results or
events. These forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ materially
from current expectations. Although the assumptions inherent in the
forward-looking statements are believed to be reasonable, forward-looking
statements are not guarantees of future performance and, accordingly, readers
are cautioned not to place undue reliance on such statements due to the
inherent uncertainty therein. Neither ONE Financial nor the Issuers undertakes
any obligation to update publicly or otherwise revise any forward-looking
statement or information whether as a result of new information, future events
or other such factors which affect this information, except as required by
law.
    This Offering is only made by a prospectus dated April 22, 2009. The
prospectus contains important detailed information about the securities being
offered. Copies of the prospectus may be obtained from the Issuers or at
www.sedar.com. Investors should read the prospectus prior to making an
investment decision.





For further information:

For further information: please visit http://www.onefinancial.com/rpdi
or contact Jeffrey O'Brien, President and CEO, or Christopher Gibson, Vice
President, Sales Manager at (416) 360-7888 or 1-866-360-7888

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ONE Financial Corporation

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