Legacy Hotels Real Estate Investment Trust
TSX : LGY.UN
TSX : LGY.DB

Legacy Hotels Real Estate Investment Trust

March 21, 2007 09:04 ET

Legacy Hotels Real Estate Investment Trust Announces Quarterly Distribution

TORONTO, ONTARIO--(CCNMatthews - March 21, 2007) - Legacy Hotels Real Estate Investment Trust ("Legacy" or the "Trust")(TSX:LGY.UN)(TSX:LGY.DB) today announced a first quarter distribution of $0.08 per unit to unitholders of record as of March 30, 2007. Payment will be made on or about April 20, 2007.

Legacy has determined that the taxable portion of distributions paid in 2006 was 60%. The balance of the distributions was a return of capital thus reducing, for tax purposes, the adjusted cost base of a unit.

About Legacy Hotels Real Estate Investment Trust

Legacy is the largest Canadian lodging real estate investment trust, focused on the ownership of luxury and first-class hotels. With a presence across Canada and in two top U.S. markets, Legacy's portfolio of 25 hotels provides geographical diversification across major urban centres. The portfolio includes landmark properties such as Fairmont Le Chateau Frontenac, The Fairmont Royal York, The Fairmont Empress and The Fairmont Olympic Hotel, Seattle. Legacy units and convertible debentures trade on the Toronto Stock Exchange under the symbols LGY.UN and LGY.DB, respectively.

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