InnVest Real Estate Investment Trust
TSX : INN.UN
TSX : INN.DB.A
TSX : INN.DB.B

InnVest Real Estate Investment Trust

December 31, 2008 12:00 ET

InnVest Real Estate Investment Trust Announces Temporary Waiver of Blackout Policy

TORONTO, ONTARIO--(Marketwire - Dec. 31, 2008) - InnVest Real Estate Investment Trust ("InnVest" or the "Trust") (TSX:INN.UN) announced that its Board of Trustees (the "Board") has approved a temporary waiver of InnVest's blackout policy that applies to trustees, officers and employees of the Trust or any of its insiders, affiliates or associates (together "Insiders"). Under the temporary waiver, Insiders will be permitted to purchase units of InnVest ("Units") provided that they are not in possession of material non-public information relating to InnVest. The Board has taken this step in light of conditions in the financial and stock markets, which have resulted in what it believes is a significant and unwarranted drop in the trading price of InnVest's Units.

The Trust's blackout period is similar to those adopted by other public companies and restricts the ability of Insiders to purchase or sell Units of InnVest during certain periods, including during the compilation of quarterly and annual financial statements. The temporary waiver of the blackout is effective immediately and will remain in effect until further notice. Insiders remain unable to purchase or sell securities of InnVest if they are in possession of material undisclosed information relating to InnVest.

TRUST PROFILE

InnVest REIT holds Canada's largest hotel portfolio together with an interest in Choice Hotels Canada Inc. the largest franchisor of hotels in Canada. The hotel portfolio currently comprises 147 hotel properties, with over 19,000 guest rooms, operated under internationally recognized franchise brands such as Comfort Inn®, Holiday Inn®, Quality Suites/Inn®, Radisson®, Delta®, Travelodge®, Hilton® Staybridge Suites®, Fairmont Hotels®, Sheraton Suites® and Best Western®. InnVest's trust units and outstanding convertible debentures trade on the Toronto Stock Exchange under the symbols INN.UN, INN.DB.A, INN.DB.B and INN.DB.C, respectively.

Contact Information

  • InnVest Real Estate Investment Trust
    Kenneth D. Gibson
    President and Chief Executive Officer
    (905) 206-7100
    Fax: (905) 206-7114

    InnVest Real Estate Investment Trust
    Tamara L. Lawson
    Chief Financial Officer and Corporate Secretary
    (905) 206-7100
    Fax: (905) 206-7114
    Website: www.innvestreit.com