Agcapita believes that farmland funds continue to show great appeal to conservative investors concerned with inflation and the volatility of their existing public equity investments. Canadian farmland has similar inflation hedging qualities to gold but with an ongoing cash yield that gold lacks. Canadian farmland returns have exhibited low volatility and this combined with higher absolute returns equate to a favorable Sharpe ratio. Agcapita’s funds directly hold diversified portfolios of farmland in western Canada, and in particular in the highly price competitive province of Saskatchewan. Agcapita’s fund’s give investors the benefit of a direct investment in farmland combined with a model of front-end loaded cash rents. Agcapita believes farmland is a safe investment, that supply is shrinking and that unprecedented demand for "food, feed and fuel" will continue to move crop prices higher over the long-term. Agcapita is one of Canada's most experienced farmland fund managers, launching its first fund in Q1 2008.

1. New research by Brookfield Asset Management Embraces the Farmland Asset
Class
FOR IMMEDIATE RELEASE, ATTENTION INVESTMENT EDITORS – January 13,
2014 - Calgary
Brookfield Asset Management released new research – “Real Assets – the New
Essential” – discussing the benefits of such hard assets as timberland, farmland,
infrastructure etc. According to the report, real assets:
“tend to generate consistent, stable cash-flow streams withlower volatility than
other traditional asset classes’
“the average historical income return across real assets has meaningfully
outpaced equities and compares favorably with bonds. Additionally, current real
asset yields remain significantly higher than both traditional asset classes. These
attractive income streams may protect the value of an investment during
recessionary environments and can also provide an important cushion against
rising interest rates.”
“have produced impressiveabsolute and relative returns over the last 10 years,
outperformingboth the global equity and global bond markets.”
The outperformance of real assets and farmland is most impressive “when
viewed on a risk-adjusted basis, as the volatility of real asset returns has
historically been lower than that of equities, while returns have been greater than
that of bonds.” Farmland in particular had risk-adjusted returns (Sharpe ratio)
four times higher than the public equity markets over the last 10 years.
“have historically exhibited low correlations to traditional equity and fixed income
investments. The addition of real assets to a mixed-asset portfolio may therefore
provide important diversification benefits, lowering overall volatility and
enhancing risk-adjustedreturns.”
For a full copy of the report go to the research section of the Agcapita website.
Agcapita believes that farmland funds continue to show great appeal to
conservative investors concerned with inflation and the volatility of their existing
public equity investments. Canadian farmland has similar inflation hedging
qualities to gold but with an ongoing cash yield that gold lacks. Canadian
farmland returns have exhibited low volatility and this combined with higher
absolute returns equate to a favorable Sharpe ratio. Agcapita’s funds directly
hold diversified portfolios of farmland in western Canada, and in particular in the

2. highly price competitive province of Saskatchewan. Agcapita’s fund’s give
investors the benefit of a direct investment in farmland combined with a model of
front-end loaded cash rents. Agcapita believes farmland is a safe investment,
that supply is shrinking and that unprecedented demand for "food, feed and fuel"
will continue to move crop prices higher over the long-term. Agcapita is one of
Canada's most experienced farmland fund managers, launching its first fund in
Q1 2008.
This news release may contain certain information that is forward looking and, by
its nature, such forward-looking information is subject to important risks and
uncertainties. The words "anticipate,""expect," "may," "should" "estimate,"
"project," "outlook," "forecast" or other similar words are used to identify such
forward looking information. Those forward-looking statements herein made by
Agcapita, if any, reflect Agcapita's beliefs and assumptions based on information
available at the time the statements were made (including, without limitation, that
(i) the demand for agricultural commodities will continue to grow at a pace that is
unlikely to be matched by growth in agricultural productivity, and (ii) investment
demand for tangible assets such as agricultural commodities and farmland will
continue to increase for the foreseeable future). Actual results or events may
differ from those anticipated or predicted in these forward-looking statements,
and the differences may be material. Factors which could cause actual results or
events to differ materially from current expectations include, among other things:
risks associated with the ownership and operation of farmland, including
fluctuations in interest rates, rental rates and vacancy rates; general economic
conditions; local real estate markets; supply and demand for farmland;
competition for available farmland; weather; crop diseases; the price of grain and
other agricultural commodities; changes in legislation and the regulatory
environment; and international trade and global political conditions. Readers are
cautioned not to place undue reliance on any forward-looking information
contained in this news release (if any), which is given as of the date it is
expressed herein. Agcapita's undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new information,
future events or otherwise.