Morguard Investments Limited Acquires Industrial Portfolio

    TORONTO, April 26 /CNW/ - Morguard Investments Limited announced today it
acquired an industrial portfolio comprising 8 buildings with 759,000 square
feet of leasable area at a price of $69.4 million on behalf of the Morguard
Industrial Pooled Fund. With this acquisition, the pooled fund now contains
over 2.5 million square feet in 26 buildings with 160 tenants and a total
value of $180 million.

    Morguard Industrial Properties (1) Inc. (MIPI) is a closed-end pooled
fund with a mandate to invest in a portfolio of income producing industrial
properties, that is diversified by both geographic location and business
sectors and that will produce stable, attractive income yields with the
potential for capital appreciation.
    Since the company was established in 1975, Morguard Investments has grown
into one of Canada's premier real estate investment and management companies.
With more than $6.5 Billion in assets under management, Morguard provides a
full range of real estate portfolio, asset, and property management services.
Our clients are major institutional investors and property owners.