TMXgroup

July 6, 2010

Morguard Sunstone Real Estate Income Fund (the "Fund") - An application has been granted for the original listing in the Industrial category of 3,434,060 Class A Units (the "Units") of the Fund, of which 2,855,084 Units will be issued and outstanding, and 578,976 Units will be reserved for issuance upon completion of an initial public offering (the "Offering").

Listing of the Units will become effective at 5:01 p.m. on Wednesday, July 7, 2010 in anticipation of the Offering closing on or before Thursday, July 8, 2010. The Units will be posted for trading at the opening on Thursday, July 8, 2010.

Registration of interests in and transfers of the Units will be made through the book-entry only system. Units must be purchased, converted, transferred and surrendered for redemption through a CDS Participant. Upon purchase of any Units, the Unitholders will receive only a customer confirmation from the registered dealer which is a CDS Participant and from or through which the Units are purchased.

Additional information on the Units may be found in the final prospectus dated June 18, 2010 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the final Prospectus.

Stock Symbol: "MSN.UN"
CUSIP: 61759T 10 1
Trading Currency: CDN

Temporary Market Maker: Raymond James Ltd.

Other Markets: none

Head Office Address: c/o Sunstone Investment Services Inc.
910 - 925 West Georgia St.
Vancouver, B.C.
V6C 3L2

Email Address: info@sunstoneadvisors.com

Website: www.sunstoneadvisors.com

Head Office Telephone Number: (604) 681-5959

Fax Number: (604) 681-5969

Toll Free Number: 1-888-681-5959

Investor Relations: Darren Latoski
604-681-5959
dlatoski@sunstoneadvisors.com

Andrew Greig
604-681-5959
andrew@sunstoneadvisors.com

Chief Financial Officer & Corporate Secretary: Steve Evans

Incorporation: The Fund is an investment trust established under, and governed by, the laws of the Province of British Columbia pursuant to a declaration of trust dated as of June 18, 2010.

Manager of the Fund: Sunstone Investment Management Inc.

Fiscal Year End: December 31

Nature of Business: The Funds investment objectives are to provide Unitholders with the opportunity for monthly distributions and long-term capital appreciation through an actively managed, diversified portfolio of publicly traded real estate securities.

Transfer Agent & Registrar: Computershare Investor Services Inc. at its principal offices in Vancouver and Toronto.

Distributions: The Fund intends to make monthly distributions to Unitholders of record on the last Business Day of each month. Distributions are initially targeted to be 6.5% per annum on the Unit Price of $10.00 per Unit ($0.05417 per Unit per month or $0.65 per Unit per annum). The first distribution will be payable to Unitholders of record on July 30, 2010 and will be pro rated to reflect the period from the Closing Date to July 31, 2010. Beginning in 2011, the amount of monthly distributions will be based on the Manager's assessment of the anticipated cash flow and anticipated expenses of the Fund form time to time. Distributions will be paid within 15 days following the end of each month for which a distribution is declared.

Class F Units: In addition to the Units, the Fund is offering Class F Units under the Prospectus. The Class F Units are designed for fee-based accounts and differ from the Units in the following ways: (i) Class F Units will not be listed on a stock exchange; (ii) the Agents' Commission payable on the issuance of the Class F Units are lower than the Units; and (iii) the Service Fee is only payable in respect of the Units. Accordingly, the Net Asset Value per unit of each class will not be the same as a result of the different fees allocable to each class of units.

A holder of Class F Units may convert Class F Units into Units and it is expected that liquidity for the Class F Units will be obtained primarily by means of conversion into Class A Units. Class F Units shall be converted as of the close of business on the first Thursday that is at least two Business Days following the date on which such Class F Units were surrendered for conversion.

Public Offering: Pursuant to the terms of the Prospectus, 2,855,084 Units are being offered to the public by National Back Financial Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Dundee Securities Corporation, BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Desjardin Securities Inc., Manulife Securities Incorporated, Sora Group Wealth Advisors Inc. and Wellington West Capital Markets Inc., as agents, at a price of $10.00 per Unit.