RMD Properties I - MRRS Decision

Headnote

Mutual Reliance Review System for ExemptiveRelief Applications - Issuer has only one security holder -issuer deemed to have ceased being a reporting issuer.

Applicable Ontario Statutory Provisions

Securities Act, R.S.O. 1990, c. S.5, as am.s. 83.

IN THE MATTER OF

THE SECURITIES LEGISLATIONOF

ALBERTA, NOVA SCOTIA, ONTARIOAND SASKATCHEWAN

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEWSYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

RMD PROPERTIES I

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker") in eachof Alberta, Nova Scotia, Ontario and Saskatchewan (the "Jurisdictions")has received an application from RMD Properties I ("RMD")for a decision under the securities legislation of the Jurisdictions(the "Legislation") that RMD be deemed to have ceasedto be a reporting issuer under the Legislation;

AND WHEREAS under the Mutual RelianceReview System for Exemptive Relief Applications (the "System"),the Ontario Securities Commission is the principal regulatorfor this application;

AND WHEREAS RMD has represented to theDecision Makers that:

1. RMD was established on November 16, 1987pursuant to the Limited Partnerships Act (Ontario).

2. RMD Properties I Corp. ("RMD GP")is the general partner of RMD. RMD GP is a corporation incorporatedon November 13, 1987 pursuant to the Business CorporationsAct (Ontario). RMD GP maintains its head office in Toronto,Ontario.

3. The authorized capital of RMD consistsof 7,000 limited partnership units (the "Units"),of which 7,000 are issued and outstanding.

4. RMD is a reporting issuer or the equivalentthereof in the Jurisdictions and is not in default of anyof the requirements of the Legislation.

5. As a result of a take-over bid and thesubsequent compulsory acquisition procedures, Realstar RMDHoldings Limited Partnership ("Realstar LP") beneficiallyowns all of the issued and outstanding Units of RMD.

6. Realstar LP is not a reporting issuer,or the equivalent thereof, in any of the Jurisdictions, anddoes not have any intention of becoming one.

7. No securities of RMD are listed or quotedon any stock exchange or organized market. Other than theUnits, RMD has no securities, including debt securities, outstanding.

8. RMD does not intend to seeking financingby way of an offering securities to the public.

AND WHEREAS under the System, this MRRSDecision Document evidences the decision of each Decision Maker(collectively, the "Decision");

AND WHEREAS each of the Decision Makersis satisfied that the test contained in the Legislation thatprovides the Decision Maker with the jurisdiction to make theDecision has been met;

THE DECISION of the Decision Makers underthe Legislation is that RMD is deemed to have ceased to be areporting issuer under the Legislation.

September 8, 2003.