Calloway Real Estate Investment Trust

Calloway Real Estate Investment Trust

March 22, 2005 15:28 ET

Calloway Real Estate Investment Trust Declares March 2005 Distribution


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CALLOWAY REAL ESTATE INVESTMENT TRUST

TSX SYMBOL: CWT.UN

MARCH 22, 2005 - 15:28 ET

Calloway Real Estate Investment Trust Declares March
2005 Distribution

CALGARY, ALBERTA--(CCNMatthews - March 22, 2005) - Calloway REIT
(TSX:CWT.UN) today announced that the trustees of the REIT have declared
a distribution for the month of March 2005 of $0.105 per trust unit,
representing $1.26 per unit on an annualized basis. Payment will be made
on or about April 15, 2005 to unitholders of record on March 31, 2005.

As previously announced and subject to declaration by the trustees of
Calloway, Calloway intends to increase its monthly distribution to
Unitholders to $0.11333 per unit, representing $1.36 per unit on an
annualized basis, commencing with the distribution for the month of
April 2005 which is payable in May of 2005.

Calloway Real Estate Investment Trust is an unincorporated closed-end
real estate investment trust focused on building a geographically
diversified portfolio of high quality retail properties in Canada.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Calloway Real Estate Investment Trust
    Keith N. McRae
    (403) 266-6438
    (403) 266-6522 (FAX)
    310, 855 - 8th Avenue S.W.
    Calgary, Alberta T2P 3P1
    The Toronto Stock Exchange neither approves nor disapproves of the
    contents of this Press Release.