Dundee REIT
TSX : D.UN

Dundee REIT

August 20, 2009 09:28 ET

Dundee REIT Announces Increase to Equity Offering

TORONTO, ONTARIO--(Marketwire - Aug. 20, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

DUNDEE REIT (TSX:D.UN) announced today that as a result of strong investor demand for its public offering of REIT Units, Series A, which was announced yesterday, the size of the offering has been increased from 2,750,000 Units to 3,350,000 Units. The gross proceeds of the offering will now be $61,472,500 based on the offering price of $18.35 per Unit.

Dundee REIT has granted the syndicate an over-allotment option, exercisable for a period of 30 days following closing, to purchase up to an additional 502,500 Units which, if exercised, would increase the gross offering size to $70,693,375. The offering is scheduled to close on or about September 9, 2009, and is subject to regulatory approval.

The offering is being underwritten by a syndicate of investment dealers led by TD Securities Inc.

The units being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.

Dundee REIT is an unincorporated, open-ended real estate investment trust and provides high quality, affordable business premises. It is focused on owning, acquiring, leasing and managing mid-sized urban and suburban office and industrial properties in Canada. Dundee REIT's portfolio currently consists of approximately 6.8 million square feet of gross leasable area, located primarily in Western Canada. Dundee REIT's portfolio is well diversified by geographic location and tenant mix. For more information, please visit www.dundeereit.com.

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