UE Waterheater Income Fund and UE Waterheater Operating Trust complete sale of assets to 3216444 Nova Scotia Company

Date Closed: 6/28/2007

Value: C$1.74 billion

In accordance with the terms of a Purchase Agreement dated April 16, 2007, on June 28, 2007, UE Waterheater Income Fund and UE Waterheater Operating Trust completed the sale of assets to 3216444 Nova Scotia Company. These assets included the water heater rental business of Union Energy Limited Partnership and its related commercial activities, as well as the security monitoring business of Protectron Limited Partnership and VOXCOM Incorporated.