ING Summit Industrial Fund LP Completes $100 Million Private Placement of Unsecured Debentures Due December 1, 2009



    /NOT FOR DISSEMINATION IN THE UNITED STATES/

    TORONTO, Oct. 9 /CNW/ - ING Summit Industrial Fund LP announced today
that its wholly-owned subsidiary, ING Summit Finance Trust, has completed an
offering by way of a private placement of Cdn. $100,000,000 principal amount
of 5.60% Series C Debentures due December 1, 2009. The Debentures are
unsecured and are guaranteed by ING Summit Industrial Fund LP. The proceeds
are expected to be used to repay other indebtedness and for general corporate
purposes.
    DBRS has assigned a rating of BBB, with a Stable trend to the Debentures.
    RBC Capital Markets acted as Lead Agent and Sole Bookrunner together with
BMO Capital Markets acting as co-agent.

    ING Summit Industrial Fund LP is managed by ING Real Estate Canada LP.
ING Real Estate Canada LP is part of the global ING Real Estate business and
is one of Canada's largest real estate management companies providing real
estate fund management, portfolio management, asset management and property
management, including sales, acquisitions, development and leasing.
    Over time ING Real Estate Canada intends to offer a diverse range of
investment funds in all segments of the Canadian real estate business.





For further information:

For further information: ING Real Estate Canada LP, Craig Newell, Chief
Financial Officer, Toll-Free (866) 786-6481 and Fax Toll-Free (866) 786-1300,
E-mail craig.newell@ingrealestate.ca

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ING SUMMIT INDUSTRIAL FUND LP

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