Date Closed

April 15, 2005

Lead Office

Toronto

Value

332.00 Million CAD

On September 27, 2004, Schooner Trust completed its sixth public offering of commercial mortgage-backed securities. The total public offering was approximately C$332 million. The pass-through certificates were backed by a diverse pool of 59 commercial mortgages originated by Commercial Mortgage Operations Company of Canada, a wholly-owned subsidiary of the Toronto-Dominion Bank, and by First National Financial Corp. TD Securities Inc. acted as sole underwriter on the transaction.

Schooner Trust and TD Securities Inc. were represented by McCarthy Tétrault LLP with a team that included Marc MacMullin, Simon Fitzpatrick, Dean Masse, Tara Rosenblatt and Jim Morand (tax).