COMREV INVESTMENTS LIMITED ANNOUNCES CONTINUED OWNERSHIP OF SECURITIES

TORONTO, Jan. 4 /CNW/ - As a result of the conversion of the trust structure of Chesswood Income Fund (the "Fund") to Chesswood Group Limited (the "Corporation"), a dividend paying corporation, effective January 1, 2011, pursuant to a plan of arrangement under the Business Corporations Act (Ontario) (the "Conversion"), holders of the Fund's trust units received common shares ("Common Shares") of the Corporation on a one-for-one basis.  Accordingly, as a result of the Conversion, Comrev and persons acting jointly or in concert with Comrev, acquired 1,318,612 Common Shares in exchange for an equal number of trust units held in the Fund, representing approximately 12.13% of the issued and outstanding Common Shares (based on the mandatory exchange of certain securities issued by the Corporation and its subsidiaries).

This announcement is not being made as a result of an increase in the beneficial ownership percentage of Comrev and persons acting jointly or in concert with Comrev, in the Corporation, but rather this announcement is being made as a result of the Conversion and the exchange of trust units held by Comrev for Common Shares, on a one-for-one basis.

The Common Shares of the Corporation continue to be held by Comrev for investment purposes.

 
   

SOURCE Chesswood Group Limited

For further information:

For additional information, or to obtain a copy of the report required pursuant to the early warning reporting requirements, please contact:

 Comrev Investments Limited
2300 Yonge Street
P.O. Box 2386
Suite 500
Toronto  ON  M4P 1E4

Attention: Edward Sonshine
Phone: (416) 866-3018


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