Canadian Apartment Properties Real Estate Investment Trust

Canadian Apartment Properties Real Estate Investment Trust

March 22, 2005 16:38 ET

CAP REIT Announces March 2005 Distribution


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CANADIAN APARTMENT PROPERTIES REAL ESTATE INVESTMENT TRUST

TSX SYMBOL: CAR.UN

MARCH 22, 2005 - 16:38 ET

CAP REIT Announces March 2005 Distribution

TORONTO, ONTARIO--(CCNMatthews - March 22, 2005) - Canadian Apartment
Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAP REIT")
announced today its March 2005 monthly distribution in the amount of
$0.09 per Unit. The March distribution will be payable on April 15, 2005
to Unitholders of record on March 31, 2005.

To encourage participation and reward our loyal Unitholders, investors
registered in our Distribution Reinvestment Plan will continue to
receive an additional amount equal to 5% of their distributions paid in
the form of additional Units.

CAP REIT (TSX - CAR.UN) is a growth-oriented investment trust owning
interests in 24,132 residential suites, including apartments and
townhouses located in most major urban centres across the country. CAP
REIT is one of Canada's largest apartment property owners and has grown
to become Canada's Landlord of Choice in its chosen markets. Since its
Initial Public Offering in May 1997, CAP REIT has grown monthly
distributions per Unit by 51%. For more information about CAP REIT, its
business and its investment highlights, please refer to our web site at
www.capreit.net.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    CAP REIT
    Mr. Michael Stein,
    Executive Chairman
    (416) 861-5788
    or
    CAP REIT
    Mr. Thomas Schwartz,
    President & CEO
    (416) 861-9404
    or
    CAP REIT
    Mr. Yazdi Bharucha,
    CFO & Secretary
    (416) 861-5771