InterRent Real Estate Investment Trust
TSX VENTURE : IIP.UN

InterRent Real Estate Investment Trust

April 23, 2007 09:00 ET

InterRent REIT Announces April Distribution

TORONTO, ONTARIO--(CCNMatthews - April 23, 2007) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

InterRent Real Estate Investment Trust (TSX VENTURE:IIP.UN) ("InterRent") announced today that its distribution declared for the month of April 2007 is $0.0317, per unit, equal to $0.38 per unit on an annualized basis, representing an annual yield of approximately 7.436% based on the April 19, 2007 unit closing price of $5.11. Payment will be made on or about May 15, 2007 to Unit holders of record on April 30, 2007. At the close of business on April 19, 2007, InterRent had 15,657,219 units issued and outstanding, including class B units of InterRent Holdings Limited Partnership.

About InterRent

InterRent is a rapidly expanding, growth oriented real estate investment trust engaged in building unitholder value through the accretive acquisition, ownership and operation of strategically located income producing multi-residential real estate, with 2,639 apartment suites under ownership and approximately 644 suites under contract, with 550 scheduled to close prior to the end of April 2007, for a total of more than 3,280 apartment suites.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". InterRent is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. A full description of these risk factors can be found in InterRent's publicly filed information which may be located at www.sedar.com. InterRent cannot assure investors that actual results will be consistent with these forward looking statements and InterRent assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

(Neither) the TSX Venture Exchange (or the TSX) have reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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