BOARD OF TRUSTEES & OFFICERS

Stephen Bellringer, Trustee and Chairman

Mr. Bellringer brings to the REIT past real estate industry experience, having served as Chairman of Anthem Properties from 2002 until 2004 and President and Chief Executive Officer of Canadian Hotel Income Properties from 1999 to 2002. Mr. Bellringer currently serves as non-executive Chairman of DTI Dental Technologies Inc. and is a director of B.C. Hydro, Integrated Paving Concepts Inc., Canadian Hotel Income Properties REIT and Trimin Capital Corp. In the past, he has also been President and Chief Executive Officer of Orca Bay Sports and Entertainment, B.C. Gas (Terasen), Transmountain Pipelines and Union Gas. Mr. Bellringer holds M.B.A. and LL.D. (Hon) degrees from the University of Windsor.