Schooner Trust Completes Sixth Public Offering

Schooner Trust completed its sixth public offering of commercial mortgage-backed securities on September 27, 2004. The total public offering was approximately $332 million. The pass-through certificates were backed by a diverse pool of 59 commercial mortgages originated by Commercial Mortgage Operations Company of Canada, a wholly-owned subsidiary of the Toronto-Dominion Bank, and by First National Financial Corp. TD Securities Inc. acted as sole underwriter on the transaction.

Schooner Trust and TD Securities Inc. were represented by McCarthy T├ętrault LLP with a team that included Marc MacMullin, Simon Fitzpatrick, Dean Masse, Tara Rosenblatt and Jim Morand (tax).

Commercial Mortgage and First National were represented by Melvyn Rubinoff, Q.C., Howard Rubinoff and Judith Hong Wilkin of Fogler, Rubinoff LLP.

Lawyer(s)

Tara R. Rosenblatt James G. Morand Howard D. Rubinoff Melvyn P. Rubinoff Simon R. Fitzpatrick Dean C. Masse Judith Hong Wilkin

Firm(s)

McCarthy Tétrault LLP Fogler, Rubinoff LLP