KS Acquisition II LP announces intention to purchase units of Primaris Retail Real Estate Investment Trust

KS Acquisition II LP announces intention to purchase units of Primaris Retail
                         Real Estate Investment Trust

PR Newswire

TORONTO, Jan. 24, 2013

TORONTO, Jan. 24,  2013 /PRNewswire/ -  KS Acquisition II  LP (the  "Offeror") 
today announced that it  currently intends, at its  discretion and subject  to 
market conditions, to acquire, directly or indirectly, beneficial ownership of
trust  units  ("Units")  of  Primaris  Retail  Real  Estate  Investment  Trust 
("Primaris") by making purchases through  the facilities of the Toronto  Stock 
Exchange ("TSX")  at  any  time and  from  time  to time  subject  to  and  in 
accordance with applicable laws.  In no event will  the Offeror make any  such 
purchases of  Units through  the facilities  of  the TSX  until at  least  one 
business day following the date of this announcement. The aggregate number of
Units acquired in this manner will not  exceed 5% of the Units outstanding  on 
December 10, 2012, being the date on which the Offeror commenced its offer  to 
purchase all of the issued and  outstanding Units of Primaris for an  all-cash 
consideration of $26.00 per Unit.

The Offeror will  issue and file  a press release  containing the  information 
prescribed by applicable law  immediately after the close  of business of  the 
TSX on each day on which any such Units have been purchased. For the  purposes 
of this announcement, the "Offeror"  includes KingSett Capital Inc.,  KingSett 
Real Estate Growth  L.P. #  5, OPB  Finance Trust  II, and  any person  acting 
jointly or in concert with the foregoing.

About KingSett Capital

KingSett Capital is  Canada's leading  private equity  real estate  investment 
business, co-investing  with  pension  fund  and  high  net  worth  individual 
clients. KingSett Capital invests through  a series of growth funds,  mortgage 
funds and  a  core investment  income  fund,  each with  its  own  risk/return 
strategy. KingSett  Capital has  executed transactions  valued at  over  $12.5 
billion in the past 10 years.

About Ontario Pension Board

Ontario Pension Board  administers Ontario's  Public Service  Pension Plan,  a 
defined benefit  pension  plan serving  more  than 42,000  members  and  their 
employers as well as  more than 40,000 pensioners  and deferred members.  With 
more than $17 billion in assets, it is one of Canada's largest pension  plans. 
Over the  last 20  years, Ontario  Pension Board  has become  one of  Canada's 
leading direct owners of high quality shopping centres.

SOURCE KingSett Capital


Media contact:

Longview Communications
Louise Kozier
Tel: (604) 644-6090

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