Analysis of Investments related to Ronald Kelly, 1995 - 2001

			1995		1996		1997		1998		1999		2000		2001
Recipient	Investment Type	Investment Corp	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value
Totals					55,105	55,216	87,258	90,284	169,570	170,550	171,219	171,219	363,986	368,357	241,192	228,397
Kelloryn Hotels Inc	10% mortgage	Propco 14	9,008	9,008	9,908	9,908	10,918	10,918	0	0
	8.75% mortgage	Propco 16	9,986	9,986	10,834	10,834	11,808	11,808	0	0
Kelloryn Hotels (North Bay) Inc.	11.5% loan	Propco 24	603	603	583	583	-23	0 (inactive)
Kelloryn Hotels (Aurora) Inc.	11.5% loan	Propco 25	2,763	2,763	2,787	2,787	2,851	2,851	0	0
Holland Cross Inc.	10% loan	Propco 30	0	0	4,030	4,030	4,332	4,892	4,423	4,983	0	0
Galleria London Inc.	10% loan	Propco 31	0	0	14,394	14,394	15,643	17,643	19,752	19,752	21,928	21,928	46,923	46,923	45,579	35,000
Kelloyrn Holdings Inc.	prime rate loan	IP Holdings 1	3,504	3,504	3,490	3,490	3,504	3,504	1,180	1,180
	prime +2% loan	IP Holdings 1	6,534	6,534	7,040	7,040	7,529	7,529	0	0
1565/1569 Upper James Steet	not specified	Propco 5	1,793	1,793	-111	0	0	0
	10% mortgage	Propco 12			2,150	2,150	2,911	2,934	3,601	3,601	5	5	0	0
Chimo Hotel Ottawa Inc.	9% loan	Propco 33					5,192	5,612	0	0
RHK Capital Inc. British Colonial Hilton	11% loan	Propco 34					18,581	18,581	40,000	40,000	58,163	58,163
Royal Host REIT	8.75% loan	Propco 14							17,192	17,192	17,228	17,228	15,004	17,461	15,004	17,116
Kelloryn Hotels Inc.	8% loan, 8.75% mortgage	Propco 16							8,179	8,179	8,857	8,857	9,593	9,593	8,015	8,500
Royal Host REIT	8% loan	Propco 33							5,061	5,061	5,068	5,068	5,138	5,138	5,000	5,138
Chimo Hotel Ottawa	9% loan	Propco 33							5,192	5,612	0	0
RHK Capital Inc. *	11% loan	Propco 39							20,724	20,724	26,554	26,554
RHK Capital (Quebec) Inc. Chateau Beauvallon, Mt. Tremblant, PQ	11% loan	Propco 40							1,142	1,142	1,265	1,265	1,834	1,834	1,860	1,788
RHK Capital Inc. Hilton Hotel, Kingston, Jamaica	11% loan	Propco 41							10,546	10,546	11,048	11,048	12,875	12,875	13,704	12,875
			1995		1996		1997		1998		1999		2000		2001
Recipient	Investment Type	Investment Corp	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value	Cost	Fair Value
Ocean Bay Properties I & II Limited	Equity Investments	Propco 44							18,890	18,890
RHK Capital Inc. Comfort Suites, Ochos Rios, Jamaica	11% loan	Propco 46							7,421	7,421	8,237	8,237
RHK Capital Inc.	10% loan	Propco 47							780	780	2,527	2,527	3,659	3,659	4,434	2,142
Sea King Fisheries Inc.	Equity investment								365	365
10562 Newfoundland Ltd.	Equity investment								372	372
RHK Capital Inc. British Colonial Hotel, Nassau, Bahamas	11% loan	1328434 Ontario Ltd									5,322	5,322	6,026	6,026
Sea King Fisheries	30% ownership	Propco 47							737	737	540	540	358	358	4,434	358
PRK Holdings Ltd.	11% cumulative preference shares	Propco 34, 39, 44, 46											123,722	123,722
		1328434 Ontario Ltd											6,026	6,026
		Propco 34											65,748	65,748	70,223	70,223
		Propco 39											30,127	30,127	33,477	33,477
		Propco 44											18,738	18,738	18,738	18,738
		1328434 Ontario Ltd											6,026	6,026	6,026	6,026
		PRK Holdings											0	0	404	404
Royal Connaught Hotel, Hamilton Formerly a Kelloryn property	11% mortgage	Propco 53													2,800	2,800
RHK Capital Inc. Crane Ridge Resorts, Jamaica	11% mortgage	Propco 46											7,195	9,109	7,494	9,312
4 Wellington Street	11% loan	Propco (Ont.) 37					4,012	4,012	4,013	4,013	4,477	4,477	4,994	4,994	0	0
		Propco (Ont.) 52													4,000	4,500

Source: CCWIPP Audited Financial Statements 1994 - 2001

* The purpose of this investment is not specified however it may be connect with the Hyatt Cayman Hotel which RHK Capital owned during this period.