May 9, 2003

Toronto- Forum Leasehold Partners Inc. today announced that it has finalized its purchase of TransAlta Place in Calgary, Alberta. TransAlta Place is the headquarters of TransAlta Corporation, one of North America's premier power generation companies.

Covering one city block in the Beltline district of downtown Calgary, the office complex is comprised of three buildings from two to 10 storeys, containing approximately 335,000 square feet of rentable area. The purchase price was $66 million with TransAlta leasing back the entire property for a term of 20 years.

"We are very pleased to add such a prestigious building and quality tenant to our portfolio," said Richard Abboud, president, Forum Leasehold Partners Inc. "TransAlta Place marks our commitment to sound real estate investment fundamentals, including high quality buildings leased to excellent tenants. This purchase is our first in Western Canada, where we believe there will continue to be strong growth opportunities in the future."

TransAlta Corporation (www.transalta.com) is Canada's largest non-regulated power generation and wholesale marketing company, with close to $9 billion in coal-fired, gas-fired, hydro and renewable generation assets in Canada, the U.S., Mexico and Australia.

Forum Leasehold Partners Inc. is active in acquiring and developing single tenant properties with long-term leases to the private or public sector. More information is available at www.forumequitypartners.com.

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