August 5th, 2009.  TORONTO, ONT. – Timbercreek Asset Management Inc. (“Timbercreek”) is pleased toannounce that, on behalf of Timbercreek Opportunity Fund #2 (the “Fund”), ithas completed the acquisition of 108 units in the heart of the Square-One areaof Missassauga, Ontario for a total consideration of $10.447 million (the“Acquisition”).  The Acquisition bringsthe total portfolio of multi-residential real estate managed by Timbercreekto approximately 7,100 units.  

TheFund is an institutionally funded limited partnership focused on creating valuefrom distressed multi-residential assets in Canada.  As the Fund’s General Partner, Timbercreek ismandated to source assets, the values of which have been impaired by priormismanagement, economic dislocation and other market inefficiencies andsubsequently, through its active management approach, reposition and enhance theseassets in order to maximize IRRs and the return of partner capital. 

Timbercreek is a specializedinvestment manager focused on real estate and other alternative asset classes.Timbercreek has a value oriented investment philosophy with an activemanagement style, and specializes in providing conservatively managed, riskadverse investment opportunities to institutions, trusts and endowment funds,discretionary investment advisors and qualified individuals. Timbercreekcurrently manages approximately $830 million in assets through its four activefunds, predominately focused in the real estate sector. Timbercreek believes that attractive investmentreturns are achieved by directly controlling the management of investments andhas therefore established a full service property management platform tointernally manage all direct real estate investments made through itsfunds.   

For more information,contact:

Timbercreek Asset ManagementInc.

Carrie Morris

416-306-9967 x250

cmorris@timbercreekfunds.com