3376290 Canada Inc.

September 28, 2005 17:05 ET

3376290 Canada Inc. Announces Further Extension of Offer for Units of Lake Louise Limited Partnership

MONTREAL, QUEBEC--(CCNMatthews - Sept. 28, 2005) - 3376290 Canada Inc. of 10,100 Cote de Liesse, Montreal Quebec, a wholly-owned subsidiary of Ocean Properties Ltd., announces that pursuant to its take-over bid for units ("Units") of Lake Louise Limited Partnership (the "Partnership") at a price of $65,000 cash per Unit, it took up and acquired ownership of the seven Units (approximately 2.3% of those outstanding) deposited under the offer prior to the original expiry date of August 12, 2005 and a further two units (approximately 0.67% of those outstanding) prior to the expiry of the first extension on September 16, 2005. The offer has been further extended, until Friday, December 16, 2005, unless withdrawn or further extended and an additional one unit (approximately 0.33% of those outstanding) has been acquired to date under the latest extension.

3376290 Canada Inc. and its parent now hold 91 Units, representing approximately 30.3% of those outstanding.

The purpose of the take-over bid is to enable the offeror to increase its level of ownership in the Partnership. The offeror may in the future acquire additional Units as circumstances warrant.

Contact Information

  • 3376290 Canada Inc.
    Robert Chartrand
    Chief Financial Officer
    (514) 403-1000
    (514) 403-2330 (FAX)