Parkbridge Lifestyle Communities Inc. Completes Plan of Arrangement

CALGARY, Jan. 7 /CNW/ - Parkbridge Lifestyle Communities Inc. ("Parkbridge") (TSX - PRK) announced today that it has completed the previously announced arrangement under the Business Corporations Act (Alberta) involving 1561609 Alberta Ltd. ("AcquireCo"), a company owned by British Columbia Investment Management Corporation ("bcIMC") and its clients. Under the terms of the arrangement, AcquireCo acquired all of the issued and outstanding common shares of Parkbridge and Parkbridge shareholders received $7.30 in cash for each share.

Registered shareholders of Parkbridge who have not already done so should submit completed letters of transmittal and share certificates to the depositary under the arrangement,  Computershare Trust Company of Canada. Payment to shareholders will be made following the receipt of such documents. Shareholders who hold Parkbridge common shares through a broker, investment dealer, bank, trust company or other intermediary should complete the documentation provided by such broker or intermediary in accordance with the instructions received.

About Parkbridge
Parkbridge is one of Canada's leading owners, operators and developers of land lease residential communities and seasonal recreational resorts. The portfolio is concentrated in the provinces of Ontario, Alberta, Quebec and British Columbia. Parkbridge is listed on the Toronto Stock Exchange under the symbol "PRK" and its head office is in Calgary, Alberta. Additional information relating to Parkbridge may be found on SEDAR at www.sedar.com.

About bcIMC
bcIMC is an investment management corporation based in Victoria, British Columbia, that manages a global investment portfolio valued at over $80 billion as at September 30, 2010. Supported by industry-leading expertise, bcIMC invests in all major asset classes, including infrastructure and other strategic types of assets. bcIMC's clients include public sector pension plans, public trusts and insurance funds. For more information, visit www.bcimc.com.

SOURCE Parkbridge Lifestyle Communities Inc.

For further information:

Mr. Joe Killi
Executive Chairman
Telephone: (403) 215-2116
Email: apowell@parkbridge.com

Mr. Iain Stewart
President, Western Operations and Co-CEO
Telephone: (403) 215-2109
Email: istewart@parkbridge.com

Mr. David Rozycki
President, Eastern Operations and Co-CEO
Telephone: (705) 429-8559
Email: drozycki@parkbridge.ca


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