Press Releases

Real Property Development & Income Balanced Offering (2008-1)

TORONTO, ONTARIO - April 30, 2009:

ONE Financial Corporation ("ONE Financial") is pleased to announce that a prospectus (the "Prospectus") has been filed with, and a receipt therefor issued by, the securities regulators in each of the provinces and territories across Canada for the initial public offering of the ONE Financial Real Property Development & Income Balanced Offering (2008-1) (the "Offering"), consisting of one unit of the ONE Financial Real Property Development Trust (2008-1) (the "Development Trust") and one unit of the ONE Financial Real Property Income Fund (2008-1) (the "Income Fund") (together a "Combined Unit"). The offering price is $25.00 per Combined Unit, consisting of $15.00 per Development Trust Unit and $10.00 per Income Fund Unit, and the minimum purchase quantity is 100 units ($2,500). Subsequent to the closing of the Offering, the Development Trust and the Income Fund (together the "Issuers") will purchase securities of the ONE Financial Real Property Development & Income Balanced L.P. (2008-1) ("ONE Financial LP") and ONE Financial LP will engage in the business of acquiring, developing or improving, operating, and where appropriate, selling a diversified portfolio of high quality income producing commercial (primarily office and retail) and/or residential real estate properties in primarily urban Canadian markets.

ONE Financial Corporation is the Promoter and ONE Financial LP has engaged ONE Financial Global Real Estate Advisors Inc. to be the Manager with the responsibility of identifying and executing ONE Financial LP's investment and development activities.

Units of both the Development Trust and Income Fund are intended to qualify as mutual fund trusts under the Income Tax Act (Canada) and as such will be qualified investments under the Income Tax Act (Canada) for registered retirement savings plans (RRSPs), Registered Retirement Income Funds (RRIFs), Registered Educational Savings Plans (RESPs), Deferred Profit-Sharing Plans (DPSPs) and Tax-Free Savings Accounts (TFSAs).

The Offering is being made through a syndicate of investment dealers that is led by Research Capital Corporation and will be available for purchase until June 25, 2009. Investment in this product is also available on a private placement basis to accredited investors and others pursuant to an Offering Memorandum. For more information please contact the Issuers directly at 1.866.360.7888.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions ‘‘expect’’, ‘‘intend’’, “will” and similar expressions to the extent they relate to the Offering. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the assumptions inherent in the forward-looking statements are believed to be reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither ONE Financial nor the Issuers undertakes any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

This Offering is only made by a Prospectus dated April 22, 2009. The Prospectus contains important detailed information about the securities being offered. Copies of the Prospectus may be obtained from the Issuers or at Investors should read the Prospectus prior to making an investment decision.