Real Estate — October 20, 2009

Redbourne Realty signs Thales to new 190,000 sq ft lease in Toronto

TORONTO, Oct. 20 /CNW/ - Thales Rail Signalling Solutions Inc. (TRSS), a subsidiary of Thales Group worldwide, has signed a multi-million dollar, long-term lease with Redbourne Realty Advisors Fund for 190,000 square feet at 105 Moatfield Drive in Toronto, Ontario.

After a year-long search, it was determined that employee and business needs could best be met by relocating within Toronto at 105 Moatfield Drive, an office tower situated in a park-like setting overlooking the Don Valley. The location is geographically central for its 900 employees, and is readily accessible by car or transit via several major arteries, the subway and GO Transit. The property provides the efficiencies to house a growing workforce and possesses significant technical infrastructural features advantageous to TRSS. Thales has grown steadily and is set to continue its growth from 900 to 1,100 employees over the next two years.

"We have been a growing presence in the Toronto labour market since 1974 when we started with a handful of engineers who pioneered a revolutionary method of rail signalling for urban rail. Today we have almost 1,000 on staff and we had to move to a facility suitable to our growth. We continue to see the Toronto labour market as key to that growth and our business success," said Bruno Cohades, President and CEO Thales Rail Signalling Solutions, Inc.

"Redbourne is extremely proud to announce our new relationship with Thales. They are a perfect fit to the facilities we were able to provide," says Allan Taylor, Senior Vice-President, Leasing (Ontario), Redbourne Realty Fund. "Over the past year, Thales senior executives and the security team have been working with our development team to ensure all needs were met. This deal represents one of the largest new deals this year and is welcome economic news for the Greater Toronto Area."

"I am very pleased that Thales has chosen Toronto to invest and expand in" said Toronto Mayor David Miller. "This is an ideally situated location close to public transit and will allow the firm to tap into a well-educated and diverse regional labour market. This show of support is further evidence that Toronto continues to be a preferred business destination for companies from around the globe. I would like to congratulate and thank Thales for its confidence in the City of Toronto."

Toronto-based Thales Rail Signalling Solutions Inc. designs, supplies and installs advanced signalling systems for urban rail operators around the world and leads the global market with its Communications-Based Train Control technology, found domestically on the TTC Scarborough RT (rapid transit) and on the Vancouver SkyTrain and Canada Line.

Headquartered in Paris, France, Thales is a leading international electronics and systems group, serving defense, aerospace and security markets worldwide. Thales is the subcontractor under Accenture to supply the Greater Toronto Area transit network with an integrated secure ticketing system. This project involves bus, subway and rail.

Redbourne Realty Fund is owned by a number of Canadian pension funds and institutions and is managed by the Redbourne Group with offices in Ontario and Quebec. The Group manages approximately 4-million square feet of mainly office space and is one of the largest office space management firms in Montreal. It has grown considerably in Ontario and now manages more than 1.7-million square feet.

Photo opportunity available.

/NOTE TO PHOTO EDITORS: A photo accompanying this release is available at http://photos.newswire.ca. Images are free to accredited members of the media/

For further information: Contact Jill Wright: jill@seedcreative.ca, (519) 851-3896, Seed Communications Inc., Media Relations for Redbourne; Roger Fradgley, Communications Manager, Thales Rail Signalling Solutions Inc., roger.fradgley@thalesgroup.com, (416) 742-3900, ext. 5238

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Updated 6:01 MST, February 9, 2010  

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