Walton Ontario Land L.P. 1 Reports Second Quarter 2010 Results

CALGARY--(BUSINESS WIRE)--Walton International Group Inc. and Walton Ontario Land L.P. 1 (the “Partnership”) announced today the Partnership’s results for the second quarter ended June 30, 2010¹.

BUSINESS OVERVIEW

The Partnership was established on October 2, 2009 for the purpose of maximizing returns to its limited partners through the acquisition, management, concept planning and eventual sale of two properties consisting of an aggregate of 455 acres of undeveloped land in southern Ontario (the “Properties”). The land located near the Toronto area in Alliston, Ontario consists of two parcels of land comprised of 155 acres. The land located in the southwest quadrant of the City of Ottawa consists of 300 acres. The Partnership is managed by Walton International Group Inc. (“WIGI”).

It is the current intention of the Partnership to hold its interest in the Properties as an investment and to eventually dispose of its interest prior to the physical development of the Properties. Should the partners of the Partnership determine that the Partnership should participate in the development of the Properties (other than pre-development concept planning), the activities of the Partnership may also include the partial or full development of the Properties prior to the sale of the Properties.

RESULTS OF OPERATIONS AND PERFORMANCE

The Partnership's material activities for the second quarter were the completion of the private placement offering (the “Private Placement”) which had commenced in March, and the acquisition of the interest in the Properties.

On June 10, 2010 the Partnership closed the Private Placement. The Private Placement raised an aggregate of $17,244,500, resulting in the issuance of 1,724,450 units, the maximum offering placement. The gross proceeds raised under both the Private Placement and the Partnership’s initial public offering (“IPO”) totaled $35,800,000.

As projected in the Partnership’s IPO Prospectus, on June 15, 2010 the Partnership used $26,885,835 of the net proceeds from the IPO and Private Placement to acquire a 100% interest in the Properties, under a land option agreement dated January 27, 2010 between the Partnership and WIGI. The remaining cash of $6,408,165 was established to pay for ongoing operational, administrative, land management and concept planning expenses (the "Refundable Expense Reserve"). The remaining gross proceeds were used as described in the Prospectus under the maximum offering.

SUMMARY OF SECOND QUARTER RESULTS

The following table provides a summary of key financial information for the period:

		Three months ended		Six months ended
		June 30, 2010		June 30, 2010
Total Revenue	$	26,030	$	32,737
Total Expenses	$	355,515	$	669,343
Net loss and comprehensive loss	$	329,485	$	636,606
Units issued under the IPO/Private Placement		1,724,450		3,580,000
Basic net loss per unit	$	0.15	$	0.43

ADDITIONAL INFORMATION

The Partnership's quarterly financial statements, management’s discussion and analysis, and other information about the Partnership have been filed on SEDAR and are available at www.sedar.com.

¹ All amounts are in Canadian dollars, and are based on unaudited interim financial statements for the quarter ended June 30, 2010, and related notes, prepared in accordance with Canadian generally accepted accounting principles (“GAAP”).

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The Partnership is managed by Walton International Group Inc., part of the Walton Group of Companies. Walton seeks to acquire and syndicate undeveloped land that is strategically located in the path of major North American urban growth corridors. These lands are syndicated to investors, without the use of leverage, made development-ready through concept planning, and then sold for a profit when it is commercially opportune to do so. Walton has completed 38 projects, providing returns to investors from the profit made on the sale of the lands. In business for over 30 years, the Walton Group currently manages approximately $2.5 billion of real estate assets, comprised of approximately 51,000 acres of land, on behalf of itself and investors and clients in North America, Europe and Asia.

For more information about Walton, please visit www.waltoninternational.com

This news release, required by applicable Canadian laws, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons.