Dundee REIT

Dundee REIT

December 12, 2007 15:30 ET

Dundee REIT Unitholders Approve the Modification of its Organizational Structure

TORONTO, ONTARIO--(Marketwire - Dec. 12, 2007) - DUNDEE REIT (TSX:D.UN) announced that its unitholders have approved, at a special meeting of unitholders held today, a special resolution relating to the previously announced modification of the organizational structure of Dundee REIT.

The modification was proposed in order to provide greater certainty that Dundee REIT will be able to qualify as a "real estate investment trust" by January 1, 2008, for the purposes of the "SIFT rules", which were announced by the Canadian federal government in October 2006 and which, as part of Bill C-52, received Royal Assent on June 22, 2007. A trust that satisfies the definition of "real estate investment trust" throughout its taxation year is exempt from the taxes and the restrictions on growth that would otherwise apply under the SIFT rules.

Dundee REIT anticipates that it will complete the modification transaction by Monday, December 31, 2007.

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 midsized urban and suburban office and industrial properties in Canada. Dundee REIT's portfolio currently consists of approximately 6.3 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.

Contact Information

  • Dundee Real Estate Investment Trust
    Michael J. Cooper
    Vice Chairman and Chief Executive Officer
    (416) 365-5145
    Email: mcooper@dundeereit.com
    Dundee Real Estate Investment Trust
    J. Michael Knowlton
    President and Chief Operating Officer
    (416) 365-2325
    Email: mknowlton@dundeereit.com
    Dundee Real Estate Investment Trust
    Mario Barrafato
    Senior Vice-President and Chief Financial Officer
    (416) 365-4132
    Email: mbarrafato@dundeereit.com
    Website: www.dundeereit.com