Allied Properties Real Estate Investment Trust
TSX : AP.UN

Allied Properties Real Estate Investment Trust

December 22, 2008 12:26 ET

Allied Properties Real Estate Investment Trust Announces Temporary Waiver of Black-Out Policy

TORONTO, ONTARIO--(Marketwire - Dec. 22, 2008) - Allied Properties REIT (TSX:AP.UN) announced today that the Trustees of the REIT have approved a temporary partial waiver of the REIT's black-out policy that applies to trustees, management, staff and other related parties.

Under the temporary partial waiver, trustees, management, staff and other related parties will be permitted to purchase units provided that they are not in possession of material non-public information relating to the REIT. The Trustees have taken steps in light of conditions in the financial and stock markets, which have resulted in what the REIT believes is a significant and unwarranted drop in the trading price of its units.

The black-out policy restricts the ability of the REIT's trustees, management, staff and other related parties to purchase or sell units of the REIT during certain periods, such as when the REIT is engaged in the preparation of its quarterly or annual financial statements. The temporary partial waiver of the black-out policy is effective through February 12, 2009, being four weeks prior to the proposed date of the release of the fourth quarter and annual results for the REIT.

Allied Properties REIT is the leading owner and manager of Class I office properties in Canada, with portfolio assets in the urban areas of Toronto, Montreal, Winnipeg, Quebec City and Kitchener. The objectives of the REIT are to provide stable and growing cash distributions to unitholders and to maximize unitholder value through effective management and accretive portfolio growth.

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