First Leaside Properties Fund Announces Final Closing



    /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES/

    TORONTO, June 3 /CNW/ - First Leaside Management Inc., the manager of the
First Leaside Properties Fund (the "Fund"), and First Leaside Securities Inc.
are pleased to announce the completion of the final closing of the initial
public offering of the Fund. The Fund sold nil Class A Units, 2,092,180 Class
B Units and 997,744 Class C Units for total gross proceeds of $3,089,924.
    To date, the Fund has sold an aggregate of 48,736 Class A Units,
7,178,834 Class B Units and 2,760,901 Class C Units pursuant to the initial
public offering, for total gross proceeds of USD$48,736 and CDN$9,939,735. The
Fund has now completed the maximum offering of the initial public offering, no
further closings are planned.




For further information:

For further information: CEO of the Manager, David C. Phillips, (905)
852-1430, info@firstleaside.com

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FIRST LEASIDE PROPERTIES FUND

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