Assiniboia Farmland Limited Partnership 3

Assiniboia Farmland Limited Partnership 3

September 24, 2007 19:07 ET

Assiniboia Farmland Limited Partnership 3 Files Final Prospectus

REGINA, SASKATCHEWAN--(Marketwire - Sept. 24, 2007) - Assiniboia Farmland Limited Partnership 3 (the "Partnership") is pleased to announce that it has filed a final prospectus with, and received a receipt therefore from, the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec, in connection with the initial public offering of its limited partnership units. A copy of the final prospectus is available on SEDAR (www.sedar.com). The net proceeds of the offering, together with any borrowings by the Partnership, will be invested in a portfolio of productive farmland properties that will be diversified by region, crop type, management style and property size for the principal purpose of renting the properties to farm operators through "cash rent", "variable cash rent" and "crop share" arrangements. Closing is scheduled for October 11, 2007 and one or more additional closings may be held thereafter.

Assiniboia Farmland GP 3 Corp., a wholly-owned subsidiary of EAI Agriculture Development Corporation ("ADC"), is the general partner of the Partnership and is responsible for developing and implementing all aspects of the Partnership's business strategy. ADC and its affiliates currently manage a portfolio of Saskatchewan farmland.

The syndicate for the offering is co-led by CIBC World Markets Inc. and RBC Capital Markets and includes Scotia Capital Inc., Richardson Partners Financial Limited, Wellington West Capital Inc., Berkshire Securities Inc., Bieber Securities Inc., Canaccord Adams, Dundee Securities Corporation, MGI Securities Inc., Raymond James Inc. and Research Capital Corporation.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the limited partnership units in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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