Agcapita Farmland Fund III is pleased to announce its third closing. Agcapita Farmland Fund III was opened to investors in October 2011 with a $20 million offering. Agcapita Fund III is the only farmland investment fund eligible for Registered Retirement Savings Plans (“RRSP”) with a low $5,000 minimum.

1. Agcapita Farmland Fund III is pleased to announce its third closing.
FOR IMMEDIATE RELEASE, ATTENTION INVESTMENT EDITORS- March 10, 2012
- Calgary
Agcapita Farmland Fund III is pleased to announce its third closing. Agcapita
Farmland Fund III was opened to investors in October 2011 with a $20 million
offering. Agcapita Fund III is the only farmland investment fund eligible for
Registered Retirement Savings Plans (“RRSP”) with a low $5,000 minimum.
Agcapita’s series of farmland funds continue to show great appeal to
conservative investors concerned with inflation and the volatility of their existing
public equity investments. Agcapita's analysis shows the risk of inflation
increasing hence a continued interest in farmland investments. Farmland has
similar inflation hedging qualities to gold but with an ongoing cash yield that gold
lacks. Farmland returns exhibit low volatility and this combined with the high
absolute returns from farmland equate to a favorable Sharpe ratio. Agcapita is
one of Canada's most experienced and largest farmland fund managers,
launching its first fund in Q1 2008.
Agcapita’s funds directly hold diversified portfolios of farmland in western
Canada, and in particular in the highly competitive province of Saskatchewan.
Investors are provided with the comfort of a direct investment in farmland
combined with a model of front-end loaded cash rents. Agcapita is part of a
family of alternative investment funds with a focus on generating commodity
linked returns and with over $100 million in assets under management.
This news release may contain certain information that is forward looking and, by
its nature, such forward-looking information is subject to important risks and
uncertainties. The words "anticipate", "expect", "may", "should", "estimate",
"project", "outlook", "forecast" or other similar words are used to identify such
forward looking information. Those forward-looking statements herein made by
Agcapita, if any, reflect Agcapita's beliefs and assumptions based on information
available at the time the statements were made (including, without limitation, that
(i) the demand for agricultural commodities will continue to grow at a pace that is
unlikely to be matched by growth in agricultural productivity, and (ii) investment
demand for tangible assets such as agricultural commodities and farmland will
continue to increase for the foreseeable future). Actual results or events may
differ from those anticipated or predicted in these forward-looking statements,
and the differences may be material. Factors which could cause actual results or
events to differ materially from current expectations include, among other things:
risks associated with the ownership and operation of farmland, including
fluctuations in interest rates, rental rates and vacancy rates; general economic

2. conditions; local real estate markets; supply and demand for farmland;
competition for available farmland; weather; crop diseases; the price of grain and
other agricultural commodities; changes in legislation and the regulatory
environment; and international trade and global political conditions. Readers are
cautioned not to place undue reliance on any forward-looking information
contained in this news release (if any), which is given as of the date it is
expressed herein. Agcapita's undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new information,
future events or otherwise.
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Agcapita’s funds directly hold diversified portfolios of farmland in western
Canada, and in particular in the highly competitive province of Saskatchewan.
Investors are provided with the comfort of a direct investment in farmland
combined with a model of front-end loaded cash rents. Agcapita is part of a
family of alternative investment funds with a focus on generating commodity-
linked returns and with over $100 million in assets under management. Agcapita
believes farmland is a safe investment, that supply is shrinking and that
unprecedented demand for "food, feed and fuel" will continue to move crop
prices higher over the long-term. Agcapita is one of Canada's most experienced
farmland fund managers, launching its first fund in Q1 2008.