June 5, 2006

Kilmer Brownfield Fund joins CBN, aboutREMEDIATION

Kilmer Brownfield Equity Fund has become a sponsor of aboutREMEDIATION (AR), Canada's leading information resource on effective site remediation and sustainable brownfields redevelopment. Kilmer has also signed on as a corporate member of the Canadian Brownfields Network (CBN), Canada's voice for brownfield redevelopment. The Fund views its involvement in the two industry groups as an important part of its commitment to promoting the benefits of brownfield redevelopment and community revitalization in Canada.

"Although over the past few years we have seen a stronger commitment from the municipal, provincial and federal governments to assist brownfield development, more needs to be accomplished, and groups such as AR and the CBN are taking the lead on a national basis," said David Harper, the Fund's environmental risk managing partner.

The Kilmer Brownfield Equity Fund is the first Canadian private equity fund specializing in brownfield redevelopment. The intended size of the Fund is $100 million, with capital committed by both institutional and private investors. A significant lead commitment has been made by the Fund's sponsor, Kilmer Van Nostrand (KVN), a privately-held Canadian investment holding company with roots in the civil engineering, construction and infrastructure fields.

To carry out its plan, the Fund has assembled a management team of brownfield investment specialists with experience in the key disciplines required to unlock value in brownfield sites. Its members include David Harper (environmental risk management), Kevin Miyauchi (real estate development), Andrew Himel (finance) and Kenneth Tanenbaum (strategy, investor relations). Collectively, the management team's experience includes over 200 brownfield sites, representing approximately 550 acres.

The pairing of brownfield redevelopment and private equity capital is intended to address the financial barriers that have historically impeded activity on brownfield sites during the site restoration and redevelopment stages. The Fund will use its capital to acquire, clean up and reposition brownfield sites and to structure appropriate indemnities for parties involved in the transactions. The cleaned up sites will then be sold to real estate developers or end-users.

The Fund will also engage corporate brownfield owners who are seeking a credible partner to help them deal with their impaired properties. The Fund will use its financial strength and environmental risk management and real estate development expertise to offer corporate owners a "blue chip" solution.

Since the Fund's formal launch in January 2006, the response from owners, investors and developers has been strong. The Fund is actively engaged in several brownfield sites and has numerous opportunities under review. Some of the latter are a direct result of real estate market failures and the Fund believes that value can be created for all interested parties by successfully integrating environmental remediation strategy and site development options.

More information is available from AR director Kevin Jones, 905/822-4133, ext 232, E-mail kjones@aboutremediation.com, Web site www.aboutREMEDIATION.com; CBN executive director Tammy Lomas-Jylh, 905/822-4133 ext 234, E-mail tammy@canadianbrownfieldsnetwork.ca, Web site www.CanadianBrownfieldsNetwork.ca; or David Harper of the Kilmer Brownfield Equity Fund, 416/814-3436, E-mail dharper@kilmergroup.com, Web site www.KilmerGroup.com.

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