News Release Date: January 22, 2008

The Corporation of the Town of New Tecumseth

BANTING HOMESTEAD TO BE PURCHASED BY THE TOWN

NEW TECUMSETH, ON – The Town of New Tecumseth has entered into a conditional

agreement of purchase and sale with the Ontario Historical Society Foundation to purchase the

Banting Homestead for its assessed value of $600,000. The offer is conditional until June 30,

2008 on the Town being able to successfully raise an additional $500,000 through a fund raising

campaign to provide for the repair and maintenance of the buildings on the property.

“The Town recognizes the tremendous significance of the property as the birthplace of a great

Canadian who was responsible for one of the most important medical achievements of this

century”, said Mayor Mike MacEachern.

On November 12, 2007 the Town passed the “Sir Frederick Banting Homestead Designation

By-law” to designate the entire Banting Homestead as being of cultural heritage value or

interest. The Mayor noted that, “While this was a step on the path of ensuring the property

would be kept intact and not developed, the ability to move forward with the repair of the

buildings and the future control and use of the property could only be achieved with the

purchase of the land”.

While the Town will pay for the purchase price out of funds raised through the sale of other

surplus Town-owned lands, the Town’s agreement to purchase the Banting lands is conditional

on it undertaking a successful fund raising campaign by June 30, 2008 to raise $500,000 to

ensure the repair and maintenance of the buildings on the property.

“We are confident that we will be able to raise the necessary funds from the many corporate

representatives and Banting supporters who have come forward throughout this process”, said

MacEachern.

The Town will accept donations to the fundraising campaign immediately and will issue

charitable tax receipts for such donations. Cheques should be made out to the “Town of New

Tecumseth – Banting Homestead”.

For Further Information: Mayor Mike MacEachern

(705) 435-3900 x223

Mailing Address:

P.O. Box 910

Alliston, Ontario

L9R 1A1

Administration Centre

10 Wellington St. E.

Alliston, Ontario

Web Address: www.town.newtecumseth.on.ca

Phone: (705) 435-6219 or (905) 729-0057

Fax: (705) 435-2873