From concept to completion we continue to deliver value.

Northern Property REIT (NPREIT) is an open-end real estate investment trust that invests in a portfolio of mainly residential income-producing properties. The REIT is the largest residential landlord in the Northwest Territories, Nunavut and the Province of Newfoundland & Labrador where many multi-family units are leased to government and corporations. The REIT is also a significant residential landlord in the strong economic areas of northern Alberta and British Columbia. NPREIT owns and leases back to independent operators, the buildings and lands associated with a portfolio of seniors' long term care and independent-living facilities. The Trust also owns commercial buildings and furnished executive suites in its main markets.

NPR units trade on the Toronto Stock Exchange under the symbol NPR.UN.

The objectives of NPR are:
• to acquire residential properties with longer term leases to governments and larger corporations
• to provide unit holders with consistent, growing equity, value, increased liquidity and monthly distributions payable monthly on a tax efficient basis
• to operate our properties, and seek out new markets that will provide for ongoing growth in distributions to unit holders
• to acquire energy efficient, low maintenance, quality properties

Updated: September 11, 2007