LEAGUE Financial Partners

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IGW REIT UNIT VALUE REMAINS STEADY

Wednesday, June 1, 2011


Dear Member-Partners and Member-Candidates,

After six straight quarters of increases, the unit value of the Traditional Class AAA IGW REIT Unit remained steady this quarter at $1.055, unchanged from the previous quarter.

Overall, the unit value of the IGW REIT is up over June of 2010, from where it stood at $1.004, a year over year increase of 5.08%.

Distributions remain at 7.5 cents per unit per annum.

Explanation and Analysis
The results are due to the fact that this was an interim quarter where selected properties within the IGW REIT were sampled, reporting no significant increase in leasing activity. In this quarter, we have also seen that markets have stabilized to an extent following their growth spurt earlier in the year. As my partner Adam points out, at this stage, it feels good to be operating in a more "normal" market.

It is also the first quarter that we have operated under the context of the new IFRS (International Financial Reporting Standards) accounting rules. As we look forward over the next two to three quarters, we expect these standards will become more and more consistently applied.

I remain grateful for your continued support and the support of LEAGUE's dedicated staff - support that began during the turbulent times of 2008-2009 and carries on to this day. LEAGUE and the IGW REIT has continued - and will continue - to adapt, and not only survive, but to thrive in good times and bad.

Such things, to me, demonstrate the merit of the LEAGUE Integrity Guarantee, and the strength of our shared vision: Intergenerational WealthTM for our Member-Partners. I hope you feel the same way too.

Warmest regards,

Emanuel F Arruda Signature

Emanuel F. Arruda
Co-Founder
The LEAGUE Group of Companies

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"A man who cannot reach a decision promptly, once he has all the necessary facts,
cannot be depended upon to carry through on any decision he may make."
– Andrew Carnegie –
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This document is for information purposes only and is not an offer to sell or a solicitation of an offer to purchase securities. Any offering will be made by way of offering memorandum or, in Ontario and Quebec, will be made only to accredited investors or those investing more than $150,000.

There are risks associated with this investment, which risks are discussed in the offering memorandum and subscription agreement. You are encouraged to read the offering memorandum (available upon request) and the subscription agreement before making your investment decision.

                                                                                                   
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LEAGUE: Delivering Intergenerational Wealth™

LEAGUE Investment Services Inc. (LEAGUE) is a member of LEAGUE Financial Partners. LEAGUE commenced operations in September 2010 when it became an Exempt Market Dealer, registered in all Canadian jurisdictions across Canada. LEAGUE's mandate is to provide its 3,200 investor Member-Partners access to institutional style investments.

Founded in 2004, LEAGUE's sister company, LEAGUE Financial Partners, has rapidly evolved into one of Canada's fastest growing real estate asset managers with over $1 billion in assets under management. This includes the IGW REIT, a $300 million Real Estate Investment Trust, comprised of a portfolio of Canadian commercial, industrial and residential properties and the $265-million Partners REIT (TSX: PAR.UN), an open-end real estate investment trust focused on acquiring and managing a portfolio of retail and mixed-use retail community and neighbourhood centres. LEAGUE Financial Partners is also involved in a number of individual Limited Partnerships ranging from office buildings to Big Box retail power centres.

LEAGUE Financial Partners finds, acquires, improves and operates investment properties on behalf of LEAGUE's more than 3,200 Member-Partner investors. This continuing growth and the exceptional performance of LEAGUE's investments are directly attributable to the values LEAGUE espouses in its corporate credo. For we at LEAGUE hold in highest regard the qualities of honour, friendship, and co-operation with our Member-Partners in the pursuit of our common goals. LEAGUE also donates five per cent of its profits to philanthropic causes.

Everything you need to know about LEAGUE is right here: www.league.ca/about