Mr. Dale Noseworthy reports

KILLAM PROPERTIES INC. PROVIDES INFORMATION ON PROPOSED REIT CONVERSION

On Nov. 3, 2015, Killam Properties Inc. received an interim order from the Ontario Superior Court of Justice (Commercial List) approving the special meeting of Killam shareholders to consider and approve the proposed plan of arrangement to convert Killam from a corporation to a real estate investment trust (REIT).

The special meeting of shareholders will be held at 11 a.m. (Halifax time) on Dec. 8, 2015, at the Courtyard by Marriott, 5120 Salter St., Halifax, N.S. Meeting materials, including an information circular, proxy form and letter of transmittal, have been mailed to shareholders. The information circular is available for viewing on SEDAR under Killam's profile and on Killam's website.

Under the terms of arrangement, Killam shareholders will receive one unit of the REIT for each Killam common share held, unless the shareholder is a qualifying shareholder and elects to receive exchangeable Class B limited partnership units in a partnership controlled by the REIT in exchange for their common shares of Killam. The exchangeable units are intended to be economically equivalent to and exchangeable for REIT units on a 1-for-1 basis and will be accompanied by special voting units of the REIT that provide their holders with equivalent voting rights to holders of REIT units. Qualifying shareholders considering electing to receive exchangeable units should refer to the information circular for important details and restrictions, and be aware that the deadline for electing to transfer common shares to exchangeable units is Dec. 3, 2015.

If approved by Killam shareholders, the arrangement is expected to become effective on or about Jan. 1, 2016.

We seek Safe Harbor.