Acquisition of Trust Units and Convertible Debentures of Temple Real Estate Investment Trust for Investment Purposes

    TORONTO, Aug. 31 /CNW/ - Following the completion of a public offering by
Temple Real Estate Investment Trust (the "Trust") of trust units and
convertible debentures on February 15, 2007 (the "Offering"), Stephen Sandler,
who is a registered individual portfolio manager with Dundee Securities
Corporation, acquired in respect of accounts managed by Mr. Sandler on a
discretionary basis and/or beneficial ownership in respect of Mr. Sandler and
his family members' personal accounts, a total of 804,000 units of the Trust
and 1,390,000 convertible debentures that are convertible into 241,739 units
of the Trust based on a conversion ratio of 17.3913 units per $100 principal
amount of debenture. Of such amounts, Mr. Sandler and his family acquired
28,200 units and 88,000 debentures. The balance of the units and debentures
were acquired for managed accounts for the benefit of clients under Mr.
Sandler's discretionary control.
    Following the Offering, Mr. Sandler on behalf of his clients and family
had acquired 9.87% of the then outstanding units of the Trust but
inadvertently did not include the convertible debentures when calculating the
extent of the holdings under his control and direction. As a result of
factoring in the units underlying the convertible debentures, Mr. Sandler has
control of units, including those underlying the convertible debentures
controlled by him, which represent 12.87% of the then outstanding units of the
Trust. Furthermore, as a result of transactions subsequent to the Offering,
Mr. Sandler exerts control or direction over 853,900 units and 2,423,500
debentures convertible into 421,478 units, representing 9.6% and 13.76%
(giving effect to the conversion of the convertible debentures held or
controlled by him) respectively of outstanding units of the Trust as at
August 29, 2007.
    As noted above, the vast majority of units and debentures of the Trust
under Mr. Sandler's control and direction are held on behalf of clients in
managed accounts rather than personally or for his family. The units and
debentures were acquired in the ordinary course of the his investment
management activities on behalf of clients, (and in the case of personal
holdings, for personal investment purposes) and he may purchase or sell
securities of the Trust in the future on the open market or in private
offerings, depending on market conditions and other factors material to the
his investment decisions. At no point of time did or does Mr. Sandler intend
to launch a formal take-over bid or propose a transaction that could
constitute a take-over bid.

For further information:

For further information: Mr. Louis Cavalaris, Vice President & Head of
Institutional Compliance, Dundee Securities Corporation at (416) 350-3057

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