InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust

August 26, 2009 11:27 ET

InterRent REIT Announces Ontario Securities Commission Decision Dismissing NorthWest Application and Confirming TSX Decision

TORONTO, ONTARIO--(Marketwire - Aug. 26, 2009) - InterRent Real Estate Investment Trust (TSX:IIP.UN)(TSX:IIP.DB) ("InterRent") announced today that the Ontario Securities Commission has released its decision dismissing the application by NorthWest Value Partners Inc. and unequivocally confirming the earlier decision of the TSX granting conditional approval to the private placement portion of the previously announced transaction involving CLV Group Inc. Other motions brought by NorthWest in the proceeding, relating to disclosure of the names of the private placees and reviewing the TSX decision to allow a postponement of the unitholder meeting date, were also dismissed.

InterRent appears in Superior Court today on an interim injunction application brought by NorthWest, whereby NorthWest again seeks to enjoin the private placement. InterRent shall advise of the results of such hearing in a further press release.

About InterRent

InterRent is a rapidly expanding, growth oriented 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". In particular, but without limitation, there is no assurance that InterRent's previously announced private placement transaction will be completed on the terms disclosed or at all. 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 InterRent cannot assure investors that actual results will be consistent with these forward looking statement. InterRent assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

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