Atlas Cold Storage Income Trust Completes Sale of Two Warehouse Properties

On September 22, 2005, Atlas Cold Storage Income Trust (Atlas) completed the sale of its warehouse properties at 5757 Chemin St-Francois, St-Laurent, Quebec, and 3691 Weston Road, Toronto, Ontario, to Summit REIT for approximately $42.95 million. Atlas entered into a leaseback of the Weston Road property from Summit REIT.

Atlas was represented by in-house counsel Darrell Ewert, and by Timothy Schumacher and Rod Davidge of Osler, Hoskin & Harcourt LLP in Toronto and by Constantine Troulis of Osler in Montreal.

Summit REIT was represented by Renata Rizzardi of Goodman and Carr LLP, and, as to the Quebec property, by Richard Burgos of Lavery, de Billy, LLP with respect to purchase and sale matters, and by Jeanne Banka of Daoust Vukovich LLP with respect to the lease back of the Weston Road property.