Public Service Properties Investments Limited (PSPI) is a specialist real estate investment and financing company. As of December 31, 2007, the Company’s investment property portfolio was held through various wholly owned subsidiaries, and comprised 39 nursing and residential care homes, a school and resource centre for children and adults with special learning needs and an assisted living business in the United Kingdom, four residential care homes in Germany, a residential care home in Zurich and 140 post offices in the United States. A majority of the investment properties in the United Kingdom are leased for an initial period of 35 years. The leases terminate between 2036 and 2039. The remaining investment properties in the United Kingdom are leased for an initial period of seven years, with the leases terminating in 2012. On September 4, 2007, PSPI acquired Stonelea Healthcare Limited.