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              [html]<thead><tr><td>Subsidiary</td><td>% Interest</td></tr></thead><tbody><tr><td>Killam Properties Inc.</td><td>100 %</td></tr><tr><td>Killam Investments Inc.</td><td>100 %</td></tr><tr><td>Killam Investments ( PEI ) Inc.</td><td>100 %</td></tr><tr><td>Killam Properties Apartments Trust</td><td>100 %</td></tr><tr><td>Killam Properties M. H. C. Trust</td><td>100 %</td></tr><tr><td>661047 N. B. Inc.</td><td>100 %</td></tr><tr><td>Blackshire Court Limited</td><td>100 %</td></tr><tr><td>Blackshire Court Limited Partnership</td><td>95.92 %</td></tr><tr><td>Killam KFH ( 180 Mill St.) Inc.</td><td>100 %</td></tr><tr><td>Killam KFH ( Kanata Lakes ) Inc.</td><td>100 %</td></tr><tr><td>Killam KFH ( 1355 Silver Spear Road ) Inc.</td><td>100 %</td></tr><tr><td>Killam KFH Sigma GP Inc.</td><td>50 %</td></tr><tr><td>Killam KFH - Sigma Properties LP</td><td>25 %</td></tr></tbody>
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