Published: August 20, 2007

Larco Investments Ltd. Acquires Government of Canada Office Buildings Across Canada

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WEST VANCOUVER, BRITISH COLUMBIA - (Marketwire - Aug. 20, 2007) - Larco Investments Ltd. announced today that it executed a 25-year sale-leaseback agreement with the Government of Canada. Larco is purchasing nine federal office properties for $1.644 Billion and leasing them back to the Public Works and Government Services Canada (PWGSC) for a term of 25 years.

"Larco Investments Ltd. is very pleased with this transaction. It provides for a conservative return and complements our existing property portfolio across Canada," said Executive Director, Thad Alston.

The properties are located at:

Montreal - 305 Rene Levesque West and 4225 Dorchester West

Ottawa - 90 Sparks Street and 1400 Merivale Road

Toronto - 4900 Yonge Street

Calgary - 220 4th Avenue Southeast

Edmonton - 9700 Jasper Avenue

Vancouver - 401 Burrard Street and 757 Hastings Street West

About Larco Investments Ltd.

Larco Investments Ltd. is a well-established, fully integrated real estate company whose activity includes ownership and management of a diversified income property portfolio, hotel ownership and management, and property development. It is a Canadian family-owned, business headquartered in West Vancouver, British Columbia. Larco Investments Ltd has acquired, developed, owned and operated commercial, residential and hospitality properties since 1970. The company employs more than 2,500 workers.

Email: talston@larco.ca