Charter Realty Holdings Announces 2006 Financial Results

TORONTO, ONTARIO -- Charter Realty Holdings Ltd. (the “Company”) (TSX VENTURE: CRH.P) is pleased to announce its 2006 financial results.

Highlights

- The Company was incorporated on March 29, 2005, initially issuing 2,000,000 shares at $0.10 per share, for gross proceeds of $200,000. On August 22, 2005, the Company completed an initial public offering, issuing 1,500,000 common shares at $0.20 per share, for gross proceeds of $300,000.

- On September 14, 2006, the Company completed a private placement financing transaction with C.A. Bancorp Inc., raising $500,000 in gross proceeds by issuing 2,500,000 common shares from treasury at a price of $0.20 per share. As a result the Company had 6,000,000 common shares outstanding as of December 31, 2006.

- On February 23, 2007, the Company completed its qualifying transaction, consisting of a private placement of 15,000,000 common shares at a price of $0.20 per share and the acquisition of three free-standing commercial retail real estate properties for an aggregate cash purchase price of $2,065,000.

- On March 9, 2007, the Company announced that it unconditionally agreed to acquire Mega Centre Cote-Vertu, a shopping centre in St. Laurent, Quebec, from RRVP Cote-Vertu Inc. for $36.7 million. In connection with this acquisition, the Company also announced that KingSett Capital and C.A. Bancorp Inc. have agreed to provide the Company with bridge financing facilities totaling $20 million. The transaction is expected to close on March 30, 2007.

- As of December 31, 2006 the Company had total assets of $852,994 (December 31, 2005 - $417,615), comprised primarily of cash.

- For the year ended December 31, 2006, the Company had a net loss of $138,401 (2005 - $25,362). This represented a loss of $0.033 per share on both a basic and diluted basis (2005 - $0.012 per share on both a basic and diluted basis).

- The Company’s only source of revenue was interest income in the amount of $20,562 (2005 - $5,329) earned on its cash deposits.

- For the year ended December 31, 2006, the Company incurred expenses of $158,963 (2005 - $30,691).

- On October 19, 2006, the company granted an aggregate of 335,000 incentive stock options to certain of its directors, officers and employees.

2006 financial results

For the complete 2006 Management’s Discussion and Analysis, and Financial Statements, please visit www.SEDAR.com.

Charter Realty Holdings Ltd.

Charter Realty Holdings Inc. is focused on acquiring a portfolio of retail and mixed-use real estate comprised of stable cash flow and value-add properties from both primary and secondary markets throughout Canada, with the principal goal of generating a reliable and growing yield for its investors. The Company owns three commercial real estate properties located in Exeter, Seaforth, and Zurich, Ontario.


The Exchange Tower
130 King Street West
Suite 2805, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-2398


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