Alexis Nihon Real Estate Investment Trust

Alexis Nihon Real Estate Investment Trust

April 16, 2007 06:00 ET

Alexis Nihon Appoints Homburg Nominees as Trustees

MONTREAL, QUEBEC--(CCNMatthews - April 16, 2007) - Alexis Nihon Real Estate Investment Trust ("Alexis Nihon") (TSX:AN.UN) announced today that in accordance with the Support Agreement entered into by Alexis Nihon with Homburg Invest Inc. ("HII") on February 27, 2007, following the acquisition by Homburg Acquisition Inc. ("HAI"), a wholly-owned subsidiary of HII, of 20,663,699 units of Alexis Nihon under its offer to acquire all of the units of Alexis Nihon at a price of $18.60 per unit, which together with the 5,274,539 units owned by HAI prior to its offer represent approximately 87% of the outstanding units of Alexis Nihon, Robert A. Nihon, Richard Guay, Thomas J. Leathong and Gerard A. Limoges resigned as trustees in favour of Richard Homburg, James Beckerleg, Edward Ovsenny and Michael Arnold. Philip M. O'Brien will remain a trustee.

Richard Homburg was also named Chairman of the Board of Trustees and Chief Executive Officer of Alexis Nihon.

About Alexis Nihon REIT

Alexis Nihon currently owns interests in 65 office, retail, and industrial properties, including a 426-unit multi-family residential property, located in the greater Montreal area and the National Capital Region. Alexis Nihon's portfolio has an aggregate of 9.1 million square feet of leasable area, of which 0.4 million square feet is co-owned.

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