Home Equity Income Trust files equity and medium term note short form base shelf prospectuses

On November 23, 2007, Home Equity Income Trust announced that it had filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada. Under the base shelf prospectus, the Trust may issue up to a total of $200 million of units of the Trust, subscription receipts and other securities convertible into or exchangeable for Units, from time to time over the next 25 months. The Trust also announced that its wholly owned subsidiary, CHIP Mortgage Trust, has filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada. Under the base shelf prospectus, CHIP Mortgage Trust may issue up to a total of $750 million of medium term notes from time to time over the next 25 months. The notes will be unconditionally guaranteed by Home Equity Income Trust. The Trust was advised in these transactions by Fasken Martineau with a team that included Richard Steinberg and Mark Lefler (corporate/securities), and Mitchell Thaw (tax).