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

InterRent Real Estate Investment Trust

June 18, 2009 06:00 ET

InterRent REIT Announces Postponement of Unitholder Meeting

TORONTO, ONTARIO--(Marketwire - June 18, 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 its Board of Trustees ("Trustees") has determined to postpone its annual and special meeting of unitholders, originally scheduled to be held at 10:00 a.m. on June 26, 2009, until further notice.

On March 11, 2009, InterRent announced the formation of a special committee ("Special Committee") of independent Trustees with a mandate to examine alternatives in order to maximize unitholder value. The process has resulted in the receipt of a number of proposals relating to strategic transactions involving InterRent which the Special Committee is currently evaluating. Given the current advanced stage of the process, the Trustees have determined that it would be in the best interests of the unitholders to postpone the annual and special meeting until such time as the process has been completed and unitholders are advised of the results thereof.

InterRent expects to update unitholders as to the results of the process as soon as practicable but there is no assurance that the process will result in any transaction being undertaken.

In accordance with the terms of InterRent's declaration of trust, the annual meeting of unitholders is required to be held on or prior to September 30, 2009 and unitholders will be provided with all requisite notice thereof.

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 the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. 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 certain of these risk factors can be found in InterRent's publicly filed information which may be located at www.sedar.com. In particular but without limitation, there is no assurance that the conclusion of the process undertaken by the Special Committee of trustees will result in any value maximizing transaction being undertaken by InterRent. 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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