May 01, 2008

Greetings IGW REIT Member-Partners,

I am pleased to announce that the unit value for League's IGW REIT has increased in the fourth quarter by .016 cents to a new value of $1.083 per unit. This puts us well on target to achieve the goals we set for the year.

All new subscriptions will be based on this new unit value - until the next re-valuation on November 1st.

The total annualized return for the last quarter is 15.56%. The annualized return since January 01, 2007 is 16.58%, which includes your cash distribution plus an 8.3% increase in the unit value to date.

Because the commencement dates for some new leases will not occur until later this year, the amount distributed per unit remains unchanged for now at 10.05 cents per unit per annum. When new rents are available for distribution, this amount will increase.

To review how the revaluations are performed, please review the Frequently Asked Questions section of the current Investment Overview available in the Members Area of League's website.

How the Net Asset Value (NAV) is calculated
As you know from our previous re-valuation, we consulted with officials at KPMG to confirm that our formula for calculating the new equity value was appropriate, and that it followed Canadian GAAP (Generally Accepted Accounting Principles).

The NAV will continue to be calculated as it always has, as follows:

NAV = (the total book value or last appraised value of all properties) - (the discounted present value of League's incentive management fee) - (discounted present value of real estate sales commission*) + (The net book value of the short-term assets and the short-term and long-term liabilities)

*Sales commission refers to fees paid to real estate brokers in the event of the disposition of an asset, and assumes a 10% portfolio turn-over annually

You can read more about how the Net Asset Value is calculated and certified here.

Reminder: Regular Quarterly Re-Valuations
New unit values are announced May 1, August 1, November 1, and February 1. This means you can expect to see regular increases in unit value on these dates (assuming there is at least one property to re-appraise each period). Prior to each re-valuation we will give advance notice so you can better time future investment purchases. We hope you'll tell your friends.

More BIG News Coming Soon!
Keep an eye on your inbox and mailbox!

Best regards,

Emanuel.

Emanuel Arruda
Chairman & Co-Founder
League Assets Corp.

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Qui dedit benificium taceat; narret qui accepit -
Let him who has done a good deed be silent; let him who has received it tell it.
- Seneca -
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