GAZ.UN Fronsac Capital Reit Units

Fronsac real estate investment trust ("Fronsac REIT") (TSX VENTURE:GAZ.UN) today
released its unaudited consolidated financial statements for the first quarter
ended March 31, 2012.


The net income of the first quarter was $94,514 or $0.005 per unit (2011: net
income of $11,272 or $0.001 per share). For the quarter of March 2011, the
operations were conducted under the name of Fronsac Capital Inc..


SUMMARY OF INCOME STATEMENT INFORMATION



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Income                                  March 31, 2012        March 31, 2011
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Revenue                                       $145,878              $122,725
Net lncome                                     $94,514               $11,272
Per unit - basic and diluted                    $0.005                $0.001
Weighted average units                                                      
 outstanding - basic and diluted            20,514,000            13,790,000
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SUMMARY OF CASH FLOWS INFORMATION



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Cash Flows                             March 31, 2012        March 31, 2011 
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Cash from operating activities                $75,700                $2,533 
Cash from investing activities                     $0               ($8,392)
Cash from financing activities            $(1,756,779)             $(47,794)
Increase (decrease) in cash               $(1,681,079)             $(53,653)
Cash - beginning of period                 $1,985,720              $886,968 
Cash - end of period                         $304,641              $833,315 
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SUMMARY OF FINANCIAL POSITION INFORMATION



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Financial Position                      March 31, 2012     December 31, 2011
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Cash                                          $304,641            $1,985,720
Investment Properties                       $7,111,919            $7,111,919
Total Assets                                $7,611,343            $9,335,868
Total Liabilities                           $2,708,177            $4,527,216
Total Equity                                $4,903,166            $4,808,652
Book value per unit                              $0.24                 $0.23
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The Trust's March 31, 2012 financial statements may be viewed on SEDAR at
www.sedar.com

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