HLD Land Development Limited Partnership

December 18, 2009 20:29 ET

Daisy Mountain Acquisition Corp. to Extend Offer to Acquire HLD Land Development Limited Partnership to January 15, 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2009) - Daisy Mountain Acquisition Corp. ("Daisy Mountain") and HLD Land Development Limited Partnership (the "Limited Partnership") (TSX VENTURE:HLD.UN.H) jointly announced today that Daisy Mountain intends to extend its offer (the "Offer") to acquire all of the outstanding units (the "Units") of the Limited Partnership for C$0.15 in cash for each Unit until 5:00 p.m. (eastern standard time) on January 15, 2010 in order to allow unitholders an additional opportunity to tender their Units.

Daisy Mountain has been advised by Kingsdale Shareholders Services Inc., in its capacity as depositary under the Offer, that as of 6:07 p.m. (eastern standard time) today 3,786,556 Units have been tendered to the all-cash Offer, representing a majority of the issued and outstanding Units. As a result however, the minimum tender condition of at least 66 2/3% of the outstanding Units of the Limited Partnership would not likely have been satisfied had the Offer expired today.

Based on the level of tenders received and on the difficulties associated with the time of year, Daisy Mountain has agreed to extend its Offer until January 15, 2010 in order to give unitholders enough time to tender their Units. The remaining Unitholders wishing to tender their Units should do so should they want this transaction to conclude.

Daisy Mountain will provide additional details regarding the proposed extension of its offer shortly following the current expiry time on December 18, 2009, when a notice of extension of the Offer will be mailed to unitholders. The Offer is not being varied in any other respect.

Unitholders may obtain a copy of the take-over bid circular, the related letter of transmittal, notice of guaranteed delivery, the directors' circular and certain other offer documents at www.sedar.com. In addition, any questions or requests for assistance or further information on how to tender Units to the Offer, may be directed to and copies of the above referenced documents may be obtained by contacting the information agent at 1-866-581-1513 or by email at contactus@kingsdaleshareholder.com.

About the Offer

Daisy Mountain's offer and circular dated November 13, 2009 and related documents were filed with Canadian regulatory authorities on November 17, 2009. Unitholders of the Limited Partnership are urged to read the offer and circular and related materials, as amended and supplemented by Daisy Mountain's notice of extension to be dated December 18, 2009. As previously announced, the Board of Directors of the general partner of the Limited Partnership has unanimously determined that the Offer is in the best interests of the Limited Partnership and unanimously recommends that the Limited Partnership's unitholders accept the Offer and tender their Units to the Offer.

The Limited Partnership's units are listed on the NEX Exchange under the symbol HLD.UN.H.

Additional information concerning the Limited Partnership may be obtained on the SEDAR website at www.sedar.com, under the Limited Partnership's profile.

Forward-Looking Statements

This press release contains forward-looking statements, which are subject to certain risks, uncertainties and assumptions. A number of factors could cause actual results to differ materially from the results discussed in such statements, and there is no assurance that actual results will be consistent with them. Such forward-looking statements are made as at the date of this news release, and neither Daisy Mountain nor the Limited Partnership assumes any obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.

This press release does not constitute an offer to purchase or the solicitation of an offer to sell or exchange any securities of the Limited Partnership, nor shall there be any sale or exchange of securities in any jurisdiction (including the United States) in which such offer, solicitation or sale or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. Investors are cautioned that, except as disclosed in the takeover bid circular to be prepared in connection with the transaction, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Limited Partnership should be considered highly speculative.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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