Ms. Deb Starkman reports

DREAM UNLIMITED CORP. FILES EARLY WARNING REPORT IN RESPECT OF DREAM OFFICE REIT

Dream Unlimited Corp. and its joint actors have sold an aggregate of 7,608,897 REIT units, Series A, of Dream Office Real Estate Investment Trust at a price of $15.50 per unit pursuant to Dream Office's substantial issuer bid to purchase for cancellation up to 12.5 million of its outstanding units at the purchase price, resulting in aggregate cash proceeds to Dream and its joint actors of $117,937,903.50.

Earlier today, Dream Office announced the final results of the offer. Holders of LP Class B units, Series 1 (exchangeable units), of Dream Office LP, a subsidiary of Dream Office, were permitted to participate in the offer by tendering their exchangeable units on an as-exchanged basis. The exchangeable units are indirectly exchangeable on a one-for-one basis for units (and are accompanied by an equivalent number of special trust units of Dream Office entitling the holder to one vote for each special trust unit at meetings of unitholders of Dream Office).

Prior to the completion of the offer, Dream and its joint actors had beneficial ownership of, or control or direction over, 14,722,387 units and 5,233,823 exchangeable units, representing approximately 39.63 per cent of the issued and outstanding units on a fully exchanged basis (assuming the exchange of all outstanding exchangeable units that are exchangeable into units) prior to completion of the offer. Immediately following the completion of the offer, Dream and its joint actors own, or have control or direction over, an aggregate of 7,113,490 units and 5,233,823 exchangeable units, representing approximately 32.62 per cent of the issued and outstanding units on a fully exchanged basis (assuming the exchange of all outstanding exchangeable units that are exchangeable into units) following completion of the offer.

Dream and its joint actors disposed of their units pursuant to the offer for investment purposes. Dream and its joint actors intend to evaluate their investments in units on a continuing basis and either may acquire units or decrease their holdings of units in the future. Dream is indirectly controlled by Michael Cooper, president and chief responsible officer of Dream. Dream provides strategic advice to Dream Office pursuant to a management services agreement. Mr. Cooper also serves as the chief executive officer and chair of the board of trustees of Dream Office. Mr. Cooper and Dream have no current intention relating to their investment in Dream Office, but depending on market conditions, general economic and industry conditions, Dream Office's business and financial condition, and/or other relevant factors, may in the future form an intention, with respect to one or more of the transactions or matters referred to above.

This press release is being issued pursuant to the requirements of National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report to be filed by Dream in connection with the transactions described herein will be available on Dream Office's SEDAR profile, and can also be obtained by contacting Robert Hughes, general counsel, Dream Unlimited, at 416-365-3535.

Dream and Dream Office's head office is located at suite 301, State Street Financial Centre, 30 Adelaide St. East, Toronto, Ont., M5C 3H1.

About Dream Unlimited Corp.

Dream is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income-generating assets in both Canada and the United States, and has an established and successful asset management business, inclusive of $24-billion of assets under management across four Toronto Stock Exchange-listed trusts, its private asset management business and numerous partnerships. Dream Unlimited also develops land and residential assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven record for being innovative and for its ability to source, structure and execute on compelling investment opportunities.

We seek Safe Harbor.