Canadian Warrants

The listed warrants will be governed by the terms of a warrant indenture to be dated Dec. 18, 2007, between the fund and Computershare Trust Co. of Canada as trustee. The warrant indenture provides for appropriate adjustments to the listed warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization. The offering of listed units and listed warrants will be conducted through the book-based system administered by CDS Clearing and Depository Services Inc. Beneficial owners of listed units and listed warrants will not receive physical certificates evidencing their ownership. On the date of closing, the fund will deliver to CDS a certificate evidencing the total number of listed units and listed warrants subscribed for under the offering. Listed units and listed warrants must be purchased, transferred and surrendered for retraction only through a CDS participant. Upon purchase of any listed units or listed warrants, the owner will receive only the customary confirmation.

Additional information on the listed units and listed warrants can be found in the final prospectus dated Nov. 29, 2007, which is available on www.sedar.com.
Capitalized terms not otherwise defined are as defined in the final prospectus.
 
Unit symbol:  GRE.UN
Unit Cusip No.:  81733G 10 8
Unit trading currency:  Canadian dollars
 
Warrant symbol:  GRE.WT
Warrant Cusip No.:  81733G 12 4
Warrant trading currency:  Canadian dollars
 
Temporary market-maker:  Research Capital Corp.
Other markets:  None
Incorporation:  The fund is an investment trust established under the laws of the Province of Ontario pursuant to the declaration of trust dated as of Nov. 29, 2007.
Fiscal year-end:  Dec. 31
 
Nature of business:  The fund was created to provide holders of listed units with exposure to the global real estate market. The net proceeds of the offering will be invested primarily in an actively managed globally diversified portfolio of publicly listed real estate issuers. The fund's investment objectives are to pay quarterly cash distributions and preserve and enhance the net asset value per unit.
 
Transfer agent and registrar:  Computershare Trust Co. of Canada at its principal office in Toronto
 
Dividends:  The fund intends to pay quarterly cash distributions. The initial cash distribution of 12.5 cents per listed unit is anticipated to be paid on or about April 15, 2008, to holders of listed units of record on March 31, 2008. The indicative distribution amount for the first four quarters of the fund is 12.5 cents per listed unit per quarter (50 cents per unit per year) representing a yield of 5 per cent per year based on the $10-per-listed-unit issue price.
 
Public offering:  Pursuant to the terms of the prospectus, units are being offered to the public by CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corp., Dundee Securities Corp., HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont Capital Inc., Wellington West Capital Inc., Berkshire Securities Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc., Research Capital Corp. and Richardson Partners Financial Ltd., as agents, at a price of $10 per listed combined unit.