Proceedings

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IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED  

- AND - 

IN THE MATTER OF

ATLAS COLD STORAGE INCOME TRUST

NOTICE OF HEARING
(Section 127)

WHEREAS Eimskip Atlas Canada Inc., KingStreet Real Estate Growth LP No.2 and Avion Group HF (the “Applicants”) have requested that the Commission convene a hearing to consider matters in connection with the Applicant’s offer to acquire the outstanding units of Atlas Cold Storage Income Trust;

TAKE NOTICE that the Commission will hold a hearing pursuant to section 127 of the Act at the Commission’s offices at 20 Queen Street West, 17 th Floor Hearing Room, Toronto, Ontario commencing on Thursday, October 12, 2006 at 10:00 a.m., or as soon as possible after that time, to consider whether the Commission should make an order under section 127 of the Act as the Commission deems appropriate;

AND TAKE FURTHER NOTICE that any party to the proceedings may be represented by counsel if he or she attends or submits evidence at the hearing; and

AND TAKE FURTHER NOTICE upon failure of any party to attend at the time and place set for the hearing, the hearing may proceed in the absence of that party and the party is not entitled to any further notice of the proceeding.

BY REASON OF the application dated September 28, 2006 filed by the Applicants with the Office of the Secretary of the Ontario Securities Commission.

DATED at Toronto, this 5 th day of October, 2006.

“John P. Stevenson”