Agcapita Farmland Fund is pleased to report that Farm Credit Canada ("FCC") confirms another strong return performance for Canadian farmland. According to the FCC Farmland Values Report, the average value of farmland in Saskatchewan increased by 9.1% during the first half of 2012.

1. Agcapita Farmland Fund is pleased to report that Farm Credit Canada ("FCC")
confirms another strong return performance for Canadian farmland.
FOR IMMEDIATE RELEASE, ATTENTION INVESTMENT EDITORS – October 14,
2012 - Calgary
According to the FCC Farmland Values Report, the average value of farmland in
Saskatchewan increased by 9.1% during the first half of 2012. The FCC reports
that"The latest increase is part of a trend that shows farmland values have been
rising in the province since 2002. In the two previous six-month reporting periods,
farmland values increased by 10.1% and 11.6%, respectively. In comparison, the
average value of Canadian farmland increased by 8.6% during the first six
months of 2012, following gains of 6.9% and 7.4% in the previous two semi-
annual reporting periods. Farmland values remained the same or increased in
each province except British Columbia. Ontario experienced the highest average
increase at 16.3%. “High-quality farmland suitable for specialty crops continued
to be in strong demand,” says Michael Hoffort, FCC Senior Vice-President of
Portfolio and Credit Risk. “Consolidation of farms in some provinces is an
ongoing trend as producers seek to increase their land base and take advantage
of efficiencies.”"
Stephen Johnston, founder of Agcapita reports that "Farmland continues to
appreciate as we predicted when we launched our first fund in 2008. We believe
that strong agriculture commodity prices and expansive monetary conditions are
supporting valuations globally but more interestingly, Saskatchewan appears to
be closing the price gap with its neighbors and generating even higher rates of
returns than Canadian farmland investments in general. We believe this is a
demonstration of a margin of safety factor in Saskatchewan farmland which we
find so compelling as investment managers. With capital raised in our 2012
offering, Fund III expects to be able to add up to 10,000 additional acres to the
overall Agcapita portfolio. We continue our model of using minimal to no leverage
for acquisitions in keeping with a commitment to risk mitigation."
Agcapita’s series of farmland funds continue to show great appeal toconservative
investors concerned with inflation and the volatility of their existing public equity
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’s funds directly hold diversified portfolios of farmland in
western Canada, and in particular in the highly price 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-

2. linked returns. 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.
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
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.