InterRent Real Estate Investment Trust
TSX : IIP.UN
TSX : IIP.DB

InterRent Real Estate Investment Trust

March 11, 2009 17:05 ET

InterRent REIT Announces Establishment of Special Committee

TORONTO, ONTARIO--(Marketwire - March 11, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

InterRent Real Estate Investment Trust (TSX:IIP.UN)(TSX:IIP.DB) ("InterRent") announced today that the board of trustees has established a special committee of independent trustees (the "Special Committee") with a mandate to examine alternatives in order to maximize unitholder value.

The Special Committee, assisted by InterRent's financial advisor, Scotia Capital Inc., will consider the full range of available alternatives, evaluate the merits of any specific proposals received (including, without limitation, those proposals already received by the REIT), and make a recommendation to the board of trustees. The Special Committee is comprised of Sheldon Wiseman, Victor Stone and Maurice Kagan.

About InterRent

InterRent is a 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 4,027 apartment suites under ownership.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation including statements about the Rights Plan, its operation and approval thereof. 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 annual information form dated March 21, 2008 and InterRent's other publicly filed information on SEDAR (www.sedar.com). Certain material assumptions about regulatory and unitholder approval of the Rights Plan were applied by InterRent in making these forward-looking statements. 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 report to reflect actual events or new circumstances except as required by applicable law.

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