InterRent Real Estate Investment Trust
TSX : IIP.UN
TSX : IIP.DB

InterRent Real Estate Investment Trust

December 24, 2009 09:00 ET

InterRent REIT Announcements

TORONTO, ONTARIO--(Marketwire - Dec. 24, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

InterRent Real Estate Investment Trust (TSX:IIP.UN)(TSX:IIP.DB) ("InterRent") announced today that, pursuant to an employment agreement with former Chief Executive Officer, G. Michael Newman, InterRent has purchased, for cancellation, 475,546 InterRent Trust Units from Mr. Newman at $1.8365 per Unit.

InterRent also announced today that G. Michael Newman has resigned as a trustee of the board, effective December 22, 2009 and Paul Roberts, Vice-President Operations has left the trust effective December 10, 2009. InterRent CEO Mike McGahan stated; "Michael Newman was the guiding force from InterRent's inception and we appreciate his many years of dedication. We wish both Michael and Paul the best in their future endeavors."

About InterRent

InterRent is a real estate investment trust engaged in building unitholder value through the accretive acquisition, ownership and operation of strategically located income producing multi-residential real estate, with 4,033 apartment suites under ownership.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". InterRent is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. A full description of these risk factors can be found in InterRent's publicly filed information which may be located at www.sedar.com. InterRent cannot assure investors that actual results will be consistent with these forward looking statements and InterRent assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

Contact Information