2012 was the year of opportunities for Round Table Management. This past year was a combination of acting for the now and preparing for the future. 2012 was the most active year in the history of Round Table Management we executed the largest amount of transactions for the most amount of money ever in the history of this company. Most of the transactions were associated with the future growth and needs of operating companies for the PIC Group which reinforces the prime mandate of the organization. The acquisitions were focused mostly in the Edmonton and Saskatoon areas with the largest volume in terms of deals and dollars happening in Edmonton. As well in 2012 construction began on our ambitious plans for an office building in downtown Saskatoon 220 Wall. We have run into a few weather and construction delays but this unique offering in the warehouse area of Saskatoon will be completed by the summer of 2013 and will be our largest development to date. RTM is a large company not in terms of employees but in terms of assets. The addition of people resources in 2012 has allowed us to clarify roles and responsibilities and to implement new processes and procedures to help RTM be more efficient and ultimately more profitable. However the Teams ability to capitalize on opportunities and deal with challenges is still the norm and this Team continues to excel. RTM increased revenue and profits in 2012 and we will be looking for a significant increase in both for 2013 as the new acquisitions start to show a return and the Wall Street and Quebec Ave properties become fully leased. The evolution of RTM continues with more transactions and our first true foray into third party development but our primary mandate remains to work with the Operating Companies within the PIC Group to ensure their current and future real estate needs are not only met but exceeded. Craig Bell 13 PIC INVESTMENT GROUP INC.