Voluntary Cease Trade in Securities of First Leaside Properties Fund and FL Master Sherman, Ltd. and Engagement of Monitor

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Nov. 11, 2011 /CNW/ - All trading in securities of First Leaside Properties Fund (the "Fund") and FL Master Sherman, Ltd. ("Master Sherman") has been halted.  Each of the Fund and Master Sherman are associated with the First Leaside Group of Companies ("First Leaside") which has, at the request of staff at the Ontario Securities Commission ("Commission Staff"), voluntarily stopped trading units in all First Leaside limited partnerships and funds while First Leaside reconfigures its affairs.

The cease trade will continue until terminated by Commission Staff or First Leaside on five days' notice to the other. Commission Staff and staff at the Investment Industry Regulatory Organization of Canada are at liberty at any time to take any action within their authority at any stage.  Any such proceeding by Commission Staff will be on five days' notice to First Leaside.  First Leaside is working to have the cease trade lifted.

In conjunction with discussions with Commission Staff, Grant Thornton, a major Canadian accounting firm, has been engaged to act as monitor to First Leaside, which includes the Fund and Master Sherman.


SOURCE First Leaside Properties Fund

For further information:

First Leaside Management Inc.
David C. Phillips
President
p. 905-852-1430

Organization Profile

First Leaside Properties Fund

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FL Master Sherman, Ltd.

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