On Monday, April 14th, 2014 Farm Credit Canada ("FCC") released its 2013 analysis of farmland price trends across Canada by province. In all provinces, farmland values either increased or remained stable. Saskatchewan experienced the highest average increase at 28.5%, followed by Manitoba at 25.6% and Quebec at 24.7%.

1. Agcapita Update - Canadian Farmland Values Increase 22% in 2013
FOR IMMEDIATE RELEASE, ATTENTION INVESTMENT EDITORS – April 15, 2014 -
Calgary
On Monday, April 14th, 2014 Farm Credit Canada ("FCC") released its 2013
analysis of farmland price trends across Canada by province.
In all provinces, farmland values either increased or remained stable.
Saskatchewan experienced the highest average increase at 28.5%, followed by
Manitoba at 25.6% and Quebec at 24.7%.
The price appreciation trends reflected in this newest FCC data support
Agcapita's belief that growing demand for agricultural products should push all
Canadian farmland prices higher and that farmland price growth rates will
continue to be highest in Saskatchewan due to a fundamental discount between
this province and its neighbours. (Click here for the FCC report)
Agcapita believes that farmland funds continue to show great appeal to
conservative investors concerned with inflation and the volatility of their existing
public equity investments. Canadian farmland has similar inflation hedging
qualities to gold but with an ongoing cash yield that gold lacks. Canadian
farmland returns have exhibited low volatility and this combined with higher
absolute returns equate to a favorable Sharpe ratio. Agcapita’s funds directly
hold diversified portfolios of farmland in western Canada, and in particular in the
highly price competitive province of Saskatchewan. Agcapita’sfund’s give
investors the benefit of a direct investment in farmland combined with a model of
front-end loaded cash rents. Agcapita believes farmland is a safe investment,
that supply is shrinking and that unprecedented demand for "food, feed and fuel"
will continue to move crop prices higher over the long-term. Agcapita is one of
Canada's most experienced farmland fund managers, launching its first fund in
Q1 2008.
This news release may contain certain information that is forward looking and, by
its nature, such forward-looking information is subject to important risks and
uncertainties. The words "anticipate,""expect," "may," "should" "estimate,"
"project," "outlook," "forecast" or other similar words are used to identify such
forward looking information. Those forward-looking statements herein made by
Agcapita, if any, reflect Agcapita's beliefs and assumptions based on information
available at the time the statements were made (including, without limitation, that
(i) the demand for agricultural commodities will continue to grow at a pace that is
unlikely to be matched by growth in agricultural productivity, and (ii) investment
demand for tangible assets such as agricultural commodities and farmland will

2. continue to increase for the foreseeable future). Actual results or events may
differ from those anticipated or predicted in these forward-looking statements,
and the differences may be material. Factors which could cause actual results or
events to differ materially from current expectations include, among other things:
risks associated with the ownership and operation of farmland, including
fluctuations in interest rates, rental rates and vacancy rates; general economic
conditions; local real estate markets; supply and demand for farmland;
competition for available farmland; weather; crop diseases; the price of grain and
other agricultural commodities; changes in legislation and the regulatory
environment; and international trade and global political conditions. Readers are
cautioned not to place undue reliance on any forward-looking information
contained in this news release (if any), which is given as of the date it is
expressed herein. Agcapita's undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new information,
future events or otherwise.