Edgeworth Properties: Evaluating and purchasing undeveloped land in Alberta, Canada

A committee was struck in 2008 to review options to enhance shareholder value. Many of the suggestions of the committee have been implemented including the election of independent board directors and the opening of new offices in Asia, most notably an office in Taipai Taiwan.

One of the recommendations of the committee included Edgeworth relisting on the Alternative Investment Market (“AIM”) of the London Stock Exchange on or about May 2009 in conjunction with a public offering of additional shares subject to shareholder approval, market conditions and no adverse material change in the corporation. Given the economic downtown which commenced in the fall of 2008, the Board of Directors has determined that there is little to no cost benefit to undertaking the expensive process of relisting due to a lack of liquidity in the global credit markets and adverse market conditions facing any public offering of stock. Accordingly, any plans to relist on AIM or any other stock exchange has been indefinitely postponed until market conditions improve.

The Board of Directors is disappointed by this turn of events but we continue to remain committed to enhancing shareholder value by other means going forward. When market conditions are receptive to a relisting of stock exchanges, Edgeworth will provide full and timely disclosure as to the details.