Toronto, Ontario (Thursday, June 21, 2001) Tom Closson, President and CEO, University Health Network (UHN), announced today that the UHN Board of Trustees has approved a land sale agreement with the Medical and Related Sciences Discovery District (MARS) for the purposes of redeveloping lands located on College Street in downtown Toronto.

The MARS Discovery District submitted one of nine redevelopment proposals as part of a formal proposal call process managed by Colliers International on behalf of UHN. The agreement is subject to a 60-day due diligence period, following which financial information will be made public. The sale is also subject to the formal consent of the Ministry of Health.

The MARS Development Proposal calls for the creation of a pre-eminent convergence centre which will bring together medical and other scientific advances. Once realized, the MARS complex will encompass approximately 1.5 million square feet of first class research premises and associated amenities in close proximity to many of Torontos world class hospitals, as well as the University of Toronto.

"The Board of Trustees of University Health Network believes that the MARS Development Proposal represents a visionary opportunity in terms of world class research, development and commercialization", said Closson. "Besides representing the best possible use of the land, the MARS option fulfills important objectives for UHN. The sale of the College Street lands to MARS will successfully complete our renewal, rebuilding and redevelopment project of our three hospitals (Project 2003) and will provide up to 400,000 square feet of new research space for UHN."

The MARS Development Proposal represents a critical step in the creation of a medical and related sciences Discovery District in the University and College area of the city. MARS is a not-for-profit corporation representing respected individuals from science, business and education fields. The Chairman of the Board of MARS is Dr. John Evans, Chairman of Torstar Corporation and President Emeritus, University of Toronto.

University Health Network is a major landmark in Canadas healthcare system, and a teaching hospital of the University of Toronto. Building on the strengths and reputation of each of our three

remarkable hospitals, Toronto General Hospital, Toronto Western Hospital and Princess Margaret Hospital, the new organization brings together the talent and resources that make it an international leader in healthcare.

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