Norrep Performance 2005 Flow-Through Limited Partnership completes asset transfer



    CALGARY, June 25 /CNW/ - Norrep Performance 2005 Flow-Through Limited
Partnership (the "Partnership") is pleased to announce that it has completed
the transfer of all of its assets (the "Rollover") to Norrep II Class of
Norrep Opportunities Corp. (the "Fund") effective at the close of business on
June 25, 2008. The Partnership received an aggregate of 1,699,161 mutual fund
shares of the Fund ("Mutual Fund Shares") with a net asset value of $30.47 per
share in exchange for assets with a market value of approximately $51,779,390.
As a result of the Rollover, each limited partner of the Partnership will
receive 0.2098 of a Mutual Fund Share for each limited partnership unit based
on a net asset value of $6.39 per unit. All net asset values were calculated
as at close of business on June 24, 2008. Mutual Fund Shares plus any
remaining property of the Partnership will be distributed to limited partners
within 5 days following the closing date.
    In addition to the $6.39 per unit mentioned above, a distribution of
$0.67 per unit will be paid on or about June 30, 2008 to Limited Partners of
record on May 16, 2008.
    The Partnership will be dissolved in accordance with the Partnerships Act
(Ontario) on or about June 27, 2008.

    Norrep Inc. is the manager of the Fund. The portfolio manager is
Hesperian Capital Management Ltd., which was also the portfolio manager for
the Partnership.

    %SEDAR: 00017183E




For further information:

For further information: Keith Leslie, (403) 531-1402 or visit
www.norrepfunds.com

Organization Profile

NORREP PERFORMANCE 2005 FLOW-THROUGH LIMITED PARTNERSHIP

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HESPERIAN

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