Important Notice

Effective August 27, 2007, GE Real Estate purchased 66% of Dundee REIT at a price of $47.50 per unit. Unitholders of Dundee had the option of having (i) none, (ii) 25%, (iii) 50%, (iv) 58%, (v) their pro rata percentage, or (vi) 100% of their units acquired, subject to proration. Dundee REIT's units that were not acquired by GE Real Estate continued to trade under a new CUSIP symbol but the ticker symbol of D.UN remained unchanged. Due to the complexity of this transaction we recommend you go to www.dundeereit.com/InvestInfo-Tax.html for complete details and example.