TMX group

CALGARY, Sept. 5 /CNW/ - Northern Property REIT (NPR.UN) has announced
that its Chief Financial Officer, Debra Boyle, plans to retire on April 30,
2007.
The REIT further announces that Mr. Todd R. Cook, CA, will join Northern
Property in November and will assume Chief Financial Officer duties May 1,
2007.
Ms. Boyle has been Chief Financial Officer of Northern Property REIT
since its inception. She had been Comptroller of Urbco Inc. for 8 years prior
to that company's May 30, 2002 reorganisation that resulted in the creation of
the REIT.
"Deb has made a sterling contribution to this enterprise," said Jim
Britton, NPREIT President & CEO. "She has played a critical role in the
successful organization, capitalization and development of our real estate
business. While doing so, she has shown a work ethic and commitment that few
can rival. Deb will be missed by us all when she embarks on her long planned
retirement next spring."
Mr. Cook will join Northern Property REIT November 15, 2006. Mr. Cook was
Chief Financial Officer of Calgary based, TGS North American REIT, which was
purchased by a subsidiary of The Great-West Life Assurance Company in June,
2006. He possesses a Bachelor of Administration from the University of Regina
and received his Chartered Accountant designation from the Institute of
Chartered Accountants of Saskatchewan in 1993. Mr. Cook was 11 years as a
Senior Manager in KPMG's Regina audit practice prior to joining TGS in Calgary
in 2001.
"We are delighted that Todd has agreed to join Northern Property," Mr.
Britton went on to say. "He is a proven real estate CFO, possesses strong
credentials and has a great ability to get things done. His age, abilities and
background make him a perfect 'fit' for our REIT. We are fortunate that we
shall have the advantage of a few months of overlap between Mr. Cook and Ms.
Boyle."