Killam Properties Inc.

Formerly President and Chief Operating Officer for TGS North American Real Estate Investment Trust ("TGS"). From October 2002 until January 15, 2003, Executive Vice President, Acquisitions and Dispositions for TGS. Prior to October 1, 2001, Mr. Lloyd was employed by TrizecHahn Office Properties Ltd. since 1988 where he was the Senior Vice President, Acquisitions, Asset Sales and Asset Manager since 1998, and Vice President, Acquisitions, Asset Sales and Asset Manager of TrizecHahn Corporation (a public real estate company listed on the TSX and New York Stock Exchange) since 1995, the Director, Corporate Development since 1989 and the Director, Leasing since 1988. Mr. Lloyd obtained a Bachelor of Arts (Honours) degree from Saint Mary's University in 1981.

Mr. Reichmann is currently the head of Reichmann International and former President, Co-Chief Executive Officer and a Trustee of Retirement Residences Real Estate Investment Trust, Canada's largest provider of senior care and accommodation and is listed on the TSX. Since 1994, Mr. Reichmann has been the President and a Director of Central Park Lodges Ltd., which transferred its nursing home assets to CPL Long Term Care Real Estate Investment Trust in 1997 and its retirement home assets to Retirement Residences Real Estate Investment Trust in 2001. Mr. Reichmann is also a Trustee of IPC US Income Commercial Real Estate Investment Trust and a Trustee of Firm Capital Mortgage Investment Trust, both listed on the TSX.

Wayne Watson is a Director of the corporation. Mr. Watson is a former Vice-President of finance of CanJam Trading Limited. Prior thereto, he was the President of Wayne Watson Consulting since January 2000. Prior thereto, he was the Chief Financial Officer and Vice President, Finance, of Fortis Inc. (a company listed on the TSX) since April 1992 to May 26, 2000.

James C. Lawley is a director of the corporation. Mr. Lawley has been employed by Scotia Fuels Ltd., a residential fuel oil supplier based in Halifax, Nova Scotia, since 1982; he has been the General Manager since 1992; prior thereto, the Sales Manager since 1988; and prior thereto, a Marketing Associate since 1982. Mr. Lawley is a house builder and co-owns a number of apartment buildings in Halifax, Nova Scotia. Mr. Lawley is also a co-owner and officer of Camp Bonaventure Ltd., a commercial sporting lodge, since 1994 and is a Director of the Atlantic Salmon Federation. Mr. Lawley obtained a Bachelor of Commerce degree from Dalhousie University in 1982.

Timothy R. Banks is a Director of the corporation. Since December 1980, Mr. Banks has been the President and owner of the APM Group of Companies which include APM Landmark, APM Developments, APM Properties, APM Construction, Landmark Homes, Central Truss, House of Excellence, Storemark Quality Fixtures, Callbecks Stratford and Callbecks Summerside. Mr. Banks has extensive experience in the construction, development and management of retail, industrial and residential real estate throughout Atlantic Canada. Mr. Banks serves on the board of The Nature Conservancy of Canada and is a past Director with The Canadian Unity Council and the Holland College Foundation. An advocate of quality education, Mr. Banks Co-Chairs the capital campaign to establish the Centre of Enterprise and Entrepreneurship at the U.P.E.I. School of Business.

Ronald M. Barron is the Corporate Secretary of the corporation. Mr. Barron has been a partner of Bennett Jones LLP since April 1997 and practices in the Corporate Department. Prior thereto, Mr. Barron was an Associate Lawyer at Bennett Jones LLP since September 1989. Mr. Barron obtained a Bachelor of Laws degree from the University of British Columbia in 1988 and is a member of the Law Society of Alberta.

Mr. Reti was a director and senior officer of Boardwalk Equities Inc. (TSX:BEIUN) until October 2001. Boardwalk is Canada's largest owner of multi-family rental communities, with 33,000 units totaling 28 million net rentable square feet. In addition to being the Chairman of the Board for Zaio Corporation, Mr. Reti is currently the Chairman of the Board of Killam Properties Inc., the largest owner of multi-family properties in Atlantic Canada, with some 15,000 rental units. George is also an independent real estate consultant, and has spent over 25 years as a licensed real estate appraiser in Calgary, AB.