Mr. Colin Baryliuk of KingSett reports

KINGSETT REAL ESTATE GROWTH LP NO. 5 ANNOUNCES CHANGES IN HOLDINGS OF KILLAM PROPERTIES INC.

KingSett Real Estate Growth LP No. 5 (an affiliate of KingSett Capital Inc.) and AIMCo Realty Investors LP (a limited partnership managed by Alberta Investment Management Corp. on behalf of certain of its clients) have mutually agreed to terminate their previous agreements pursuant to which KSLP5 was considered to be acting jointly or in concert with ARI LP in connection with their acquisition and beneficial ownership of common shares of Killam Properties Inc. As a consequence, common shares beneficially owned, or over which control or direction is exercised, by ARI LP are no longer deemed to be beneficially owned by KSLP5 and will no longer be aggregated with common shares beneficially owned by KSLP5. Following such termination, KSLP5 beneficially owns 3,419,562 common shares as principal for its own account, representing approximately 5.65 per cent of the outstanding common shares.

Notwithstanding the termination of the agreements between KSLP5 and ARI LP in connection with their acquisition and beneficial ownership of common shares, the previously announced real estate joint ventures among Killam, affiliates of KingSett and ARI LP remain unaffected. KingSett and ARI LP look forward to continuing to work with Killam, including in the consideration of potential future joint venture investments.