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Shareholder Information
 
Tax Treatment of 2006 Distributions

BPO Properties
Canadian Residents: Common share distributions are treated as taxable dividends from a Canadian corporation.Individuals resident in Canada are entitled to an enhanced dividend tax credit on "eligible dividends" received in 2008 and subsequent years. BPO Properties Ltd has determined that all dividends paid in 2008 are eligible dividends for this purpose
U.S. Residents: Common share distributions are treated as a return of capital.

Stock Exchange Listing
Toronto Stock Exchange Trading Symbols
Common Shares — BPP

Eligible Dividend Information
For purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation, all dividends (and deemed dividends) paid by Brookfield Properties to Canadian residents on our common and preferred shares in 2006 and thereafter, are designated as "eligible dividends." Unless stated otherwise, all dividends (and deemed dividends) are designated as "eligible dividends" for the purposes of these rules.

Preferred Shares
Series G — BPP.PR.G
Series J — BPP.PR.J
Series K — Not Listed
Series M — BPP.PR.M
Series N — Not Listed


Transfer Agent and Registrar
Questions relating to dividends, transfer of shares, address changes or share certificates should be directed to our Transfer Agent, CIBC Mellon Trust Company.

CIBC Mellon Trust Company
P.O. Box 7010
Adelaide Street Postal Station
Toronto, Ontario
M5C 2W9

Tel : 416-643-5500 or 1-800-387-0825
Fax: 416-643-5501
Website : www.cibcmellon.ca
E-mail : Inquiries@cibcmellon.ca


Corporate Offices:
BPO Properties Ltd.
Bay Wellington Tower
Brookfield Place, 181 Bay Street
Suite 330, P.O. Box 770
Toronto, Ontario
M5J 2T3

Tel: (416) 359-8555
Fax: (416) 359-8596

Investor Relations
Shareholder questions relating to investor relations should be directed to:

Melissa Coley, Vice President, Investor Relations
416-359-8593
mcoley@bpoproperties.com

Inquiries regarding financial results should be directed to:
Bryan Davis, Senior Vice President and Chief Financial Officer
416-956-5170
bdavis@bpoproperties.com