Alexis Nihon Real Estate Investment Trust

Alexis Nihon Real Estate Investment Trust

May 03, 2007 12:35 ET

Alexis Nihon REIT Announces Special Distribution

MONTREAL, QUEBEC--(CCNMatthews - May 3, 2007) - Alexis Nihon Real Estate Investment Trust (the "REIT") (TSX:AN.UN) announced today that it will pay, no later than May 17, 2007, a cash distribution of $0.07642 per unit to unitholders of record as at May 14, 2007. The distribution is for the period from April 6, 2007, that being the day following the expiry date of the offer made by Homburg Acquisition Inc. ("Homburg") to acquire all outstanding units of the REIT, to April 30, 2007. The amount of this distribution was determined based on the number of days during this period and the amount of $0.0917 per unit normally distributed by the REIT on a monthly basis.

A special meeting of unitholders of the REIT is scheduled to be held on May 17, 2007. At the special meeting, it is proposed that amendments to the contract of trust of the REIT be adopted which will result in the redemption of all the issued and outstanding units of the REIT, with the exception of those held by Homburg. Provided that the proposed amendments to the contract of trust are adopted at the special meeting, the REIT does not currently intend to declare or pay any further distributions in the future.

Homburg has waived its right as a unitholder of the REIT to receive the cash distribution.

About Alexis Nihon REIT

The REIT 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. The REIT'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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