A Valued Partner for Real Estate Investment and Financing a Global Investment Manager / 1

A valued partner for real estate investment and financing a global investment manager / 1

Cadim is a global investment manager that focuses on a wide range of real estate equity and financing products in association with prominent partners. Cadim distinguishes itself by its flexibility, creativity, ability to adapt to specific market needs and practices designed to promote effective partnerships.

The constant monitoring of target markets throughout the world and the unparalleled expertise of our teams allow Cadim to act quickly on promising business opportunities and optimize returns on investments to achieve maximum added value.

A talented team, a unique set of strengths

/ A multidisciplinary group of professionals whose expertise and innovative spirit enable them to bring complex transactions to fruition / In-depth knowledge of new markets and products / Efficient decision-making processes and quick turnaround / Willingness to explore all possible alternatives before settling on the terms of a deal / Solid commitment to its partners

Total assets under management: C$36.3 billion

* As at December 31, 2006 PARTNERSHIP THE KEY TO SUCCESS / 3

An approach focused on value creation

The driving force behind Cadim is our dedication to creating value. We concentrate primarily on investing in high-growth markets, sectors and products, usually over a three- to five-year horizon.

Our vast network of strategic partners, offices and affiliates is instrumental in seeking out and tapping into business opportunities that meet these objectives, mostly by way of an investment program established in advanced. / 4

A strategy rooted in partnership

Partnership is one of the most important keys to success at Cadim. And choosing the right partner from the very beginning is essential to the investment process. Our aim is to join forces with top-notch institutional investors, financial groups, real estate companies and developers with exceptional expertise, know-how, investment capacity and management skills. Our partners generally share our commitment to the principles of active investment management and value creation.

Although we favour a short- to medium-term approach for our investments, we always take a long-term view of partnerships. We feel that partners are much more than simple business contacts. They are valued associates with whom we strive to build a relationship of trust. / 5

A network of specialized affiliates

In addition to our offices abroad in France, Germany and China, and numerous partners around the world, the Cadim network is made up of six affiliates specializing in certain types of equity investments or financial products.

Real estate advisers specializing in niche products, such as senior and student residences, serving a Canada-wide market. Mortgage company covering the Canadian market.

www.maestro-management.com www.mcap.com

Manager of opportunistic and value-added real estate funds for all categories of real Commercial mortgage and investment estate assets in the U.S. management company specializing in the U.S. market.

www.praediumgroup.com www.cwcapital.com

Worldwide manager of publicly listed Financial manager covering real estate securities. the European market.

www.presima.com EXTENSIVE EXPERTISE AND MULTIDISCIPLINARY KNOW-HOW / 7

A proactive team of experts

One of the greatest strengths of Cadim lies in our people. Our teams of professionals have extensive expertise in fields related directly to real estate, financing and finance, as well as the corresponding specialities of taxation, risk management, legal affairs and research. Together, we form a strong, proactive group who can carefully weigh the possibilities of a situation and come up with optimal solutions. Our multidisciplinary expertise and shrewd insight into the markets we cover let us act quickly and effectively when partners bring investment opportunities. EXTENSIVE EXPERTISE AND MULTIDISCIPLINARY KNOW-HOW / 8

Member of the Real Estate group of the Caisse de dépôt et placement du Québec

Cadim is part of the Real Estate group of the Caisse de dépôt et placement du Québec.

The Caisse at a glance / Total assets under management C$237.3 billion* / number-one institutional fund manager in Canada / largest Canadian investor in global markets / one of the leading portfolio managers in North America / Financing rated AAA by DBRS and S&P and Aaa by Moody’s

The Real Estate group at a glance / one of the top 10 real estate asset managers in the world / Assets under management: C$63.3 billion* / real estate portfolio: C$52.7 billion* / Financing portfolio: C$10.6 billion*

* As at December 31, 2006 Contact information

Head office European offices Centre CDP Capital 128, rue du Faubourg Saint Honoré 1000, place Jean-Paul-Riopelle, A-300 Paris, France 75008 Montréal (Québec) Canada H2Z 2B6 Tel.: (33) 1 56 69 25 30 Tel.: (1) 514 875-3360 Fax: (33) 1 45 63 18 72 Fax: (1) 514 875-3327 Reuterweg 49/Kronbergerstr. 1-3 Richard Dansereau Frankfurt, Germany 60323 President and Chief Operating Officer Tel.: (49) 69 299 20 86-0 [email protected] Fax: (49) 69 299 20 86-50

Line Lefebvre Jean Lamothe Senior Vice-President, Investments President Real Estate Financing CDP Real Estate Europe [email protected] [email protected]

Anthony Messina China office Vice-President, Investments Room 902, 9F, Aurora Plaza Real Estate Equity No. 99 Fucheng Rd. Lujiazui [email protected] Pudong Shanghai 200120 China Sylvain Charpentier Tel.: (86) 21 5882-6999 Vice-President, Strategic Partnerships Fax: (86) 21 5882-3098 [email protected] Stéphane D. Tremblay Vice-President, Business Development and Investment CDP Real Estate China [email protected]