All Livingston Shares Acquired

On February 11, 2002, Livingston International Income Fund acquired all the shares of Livingston International Inc. from CAI Capital Corporation and other investors for approximately $122 million. In connection with the acquisition, The Bank of Nova Scotia as administrative agent and lender and Canadian Imperial Bank of Commerce as syndication agent and lender made available a $90 million credit facility to Livingston International.

The fund, CAI and Livingston International were represented by Stikeman Elliot, with a team comprised of Simon Romano, Andrea Alliston, Orysia Semotiuk and Samantha Levy (corporate), Lianne Miller (tax), Mario Paura (real estate) and Marie Garneau and Wesley Ng (banking).

The Bank of Nova Scotia and CIBC were represented by McCarthy Tétrault LLP, with a team comprised of Joel Scoler, Stephen Furlan, Wendy Gwyn Phierry, Larry Henry and Justin Lapedus (corporate/banking).