DOWNTOWN STUDENT FACILITY TRUST                                  26 August 2003

      MINUTES OF THE NINTH MEETING OF DOWNTOWN STUDENT TRUST held
      on 26 August 2003 at 8pm at Peter Robinson College, at the Seminar Room 
      above the Squash Court Hall, Trent U, Peterborough, Ontario.

P R E S E N T: Marisa Barnhart. Dwayne Collins, Catherine Dickinson, 
               Chris Mather, John K Muir & Matthew Naylor

Also Present: Richard Taylor and Scott Douglas

Notice of this Meeting having been made to all the Trustees, and quorum of
the Trustees being present in person, the Meeting was declared duly
constituted and called to order at 8:00 p.m., with Catherine Dickinson
acting as Chair and John Muir acting as Secretary.

The Chair made some opening remarks and discussion followed.

Mr. Taylor presented advice as to the purchase of the property in question.

Mr Douglas led the Trustees through a step by step analysis of the signed
back offer of purchase dated 07 August 2003, based upon our original offer
of 27 June 2003.

After some discussions it was decided to resubmit our offer as originally 
stated.

UPON A MOTION duly made seconded and carried the offer of purchase is to be 
resubmitted according to the terms of our offer dated 27 June 03, after 
receiving further advise from Mr. Taylor.  

It was noted that the Chair could call a meeting to deal with the 
final draft of the resubmission if it vary substantially from the offer 
made on 27 June 2003, and that the Trust would meet again as soon as 
this offer had been dealt with by the vendor.

There being no further business the meeting was adjourned.

  ____________________________       ______________________
   Catherine Dickinson, Chair         JK Muir, Secretary