Canadian Real Estate Investment Trust
TSX : REF.UN

Canadian Real Estate Investment Trust

May 16, 2006 11:50 ET

Canadian Real Estate Investment Trust Announces May 2006 Distribution

TORONTO, ONTARIO--(CCNMatthews - May 16, 2006) - Canadian Real Estate Investment Trust ("CREIT")(TSX:REF.UN) today announced its May 2006 monthly distribution in the amount of 10.67 cents per unit (C$1.28 annualized). The May distribution will be payable on June 14, 2006 to Unitholders of record May 31, 2006.

CREIT had previously announced that, effective June 2006, it would increase its monthly distribution (payable July 2006) to 10.83 cents per unit (C$1.30 annualized).

CREIT is a real estate investment trust that is dedicated to accumulating a portfolio of high-quality real estate assets; and then deliver the benefits of such real estate ownership to Unitholders. The primary benefit is a reliable and, over time, increasing cash distribution. CREIT owns a portfolio in excess of 130 retail, office and industrial properties.

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