ONE Financial Successful First Closing of Prospectus Offering - Second Closing Scheduled for June 26, 2009

    TORONTO, May 13 /CNW/ - ONE Financial Corporation ("ONE Financial") is
pleased to announce that they have successfully closed the ONE Financial Real
Property Development & Income Balanced Offering (2008-1) (the "Offering"). A
second closing is scheduled for June 26, 2009.
    Jeffrey O'Brien, President and CEO of ONE Financial, stated "We are
delighted with the support we have received for our balanced real estate
offerings, and the continued interest in quality real estate assets as a
viable investment alternative. With strong fundamentals supporting capital
growth and income stability, many of our advisor clients are using the ONE
Financial Real Property Development & Income Balanced Offering to reduce
portfolio volatility in these turbulent times. This is a truly unique offering
with many benefits previously unavailable in Canada."
    The Offering consists of one unit of the ONE Financial Real Property
Development Trust (2008-1) (the "Development Trust") and one unit of the ONE
Financial Real Property Income Fund (2008-1) (the "Income Fund") (together a
"Combined Unit"). The offering price is $25.00 per Combined Unit, consisting
of $15.00 per Development Trust Unit and $10.00 per Income Fund Unit, and the
minimum purchase quantity is 100 units ($2,500). Units of both the Development
Trust and Income Fund are intended to qualify as mutual fund trusts under the
Income Tax Act (Canada) and as such will be qualified investments under the
Income Tax Act (Canada) for registered retirement savings plans (RRSPs),
Registered Retirement Income Funds (RRIFs), Registered Educational Savings
Plans (RESPs), Deferred Profit-Sharing Plans (DPSPs) and Tax-Free Savings
Accounts (TFSAs).
    The Offering is being made through a syndicate of investment dealers that
is led by Research Capital Corporation and will be available for purchase
until June 26, 2009. Investment in this product is also available on a private
placement basis to accredited investors and others pursuant to an Offering
Memorandum. For more information please contact the Issuers directly at
    ONE Financial is currently engaged in providing investors with a balanced
approach to real estate investing, with investments focused on Canadian urban
markets that combine attractive distributions from Mature Properties with
uncommon growth potential from Re-development Properties. ONE Financial
Corporation is a specialized investment products firm that was formed in 2001
to meet the growing demand for a better way to invest. Investors have
responded to ONE Financial's innovative approach. Since launching their first
product in 2002, ONE Financial has raised over $300 million and is among
Canada's fastest growing investment firms.

    Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those identified by
the expressions "expect", "intend", "will" and similar expressions to the
extent they relate to the Offering. The forward-looking statements are not
historical facts but reflect current expectations regarding future results or
events. These forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ materially
from current expectations. Although the assumptions inherent in the
forward-looking statements are believed to be reasonable, forward-looking
statements are not guarantees of future performance and, accordingly, readers
are cautioned not to place undue reliance on such statements due to the
inherent uncertainty therein. Neither ONE Financial nor the Issuers undertakes
any obligation to update publicly or otherwise revise any forward-looking
statement or information whether as a result of new information, future events
or other such factors which affect this information, except as required by
law. This Offering is only made by a Prospectus dated April 22, 2009. The
Prospectus contains important detailed information about the securities being
offered. Copies of the Prospectus may be obtained from the Issuers or at Investors should read the Prospectus prior to making an
investment decision.

For further information:

For further information: please visit
or contact Jeffrey O'Brien, President and CEO, or Christopher Gibson, Vice
President, Sales Manager at (416) 360-7888 or 1-866-360-7888

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