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KingSett Capital Led Consortium Extends All-Cash Offer For Primaris Units

TORONTO, Jan. 17, 2013 /PRNewswire/ - KS Acquisition II LP (the "Offeror") today filed a notice of extension with the depositary of the offer (the "Offer") previously announced on December 5, 2012 to purchase all of the trust units of Primaris Retail Real Estate Investment Trust ("Primaris").

The Offer is now open for acceptance by Primaris unitholders until 5.00 p.m. ( Toronto time) on February 4, 2013, ("Expiry Time") unless withdrawn by the Offeror. The Offer has been extended to allow the Offeror an opportunity to review materials, including the arrangement agreement that will be filed on SEDAR, in connection with yesterday's announcement regarding H&R Real Estate Investment Trust and H&R Finance Trust entering into an agreement to acquire Primaris.

Primaris unitholders with questions about the Offer or how to tender their Primaris units should contact CST Phoenix Advisors, the information agent under the Offer, at 1-866-822-1237 ( North America toll-free) or 201-806-2222 (collect calls) or by email at inquiries@phoenixadvisorscst.com.

About KingSett Capital

KingSett Capital is Canada's leading private equity real estate investment business, co-investing with pension fund and high net worth individual clients. KingSett Capital invests through a series of growth funds, mortgage funds and a core investment income fund, each with its own risk/return strategy. KingSett Capital has executed transactions valued at over $12.5 billion in the past 10 years.

About Ontario Pension Board

Ontario Pension Board administers Ontario's Public Service Pension Plan, a defined benefit pension plan serving more than 42,000 members and their employers as well as more than 40,000 pensioners and deferred members. With more than $17 billion in assets, it is one of Canada's largest pension plans.  Over the last 20 years, Ontario Pension Board has become one of Canada's leading direct owners of high quality shopping centres.

Important Notice

This announcement is for informational purposes only and does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security. The release, publication and distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published and distributed should inform themselves about and observe such restrictions. The Offer is not being made in, nor will deposits of securities be accepted in, any jurisdiction in which the making or acceptance thereof would not be in compliance with the laws of such jurisdiction. However, the Offeror may, in its sole discretion, take such action as it deems necessary to extend the Offer in any such jurisdiction.

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