RioCan Real Estate Investment Trust Announces Completion of an Additional $25 Million Offering of the Series Q Senior Unsecured Debentures

TORONTO, ONTARIO--(Marketwire - July 19, 2012) -

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RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that it has successfully completed its issuance of $25 million principal amount of series Q senior unsecured debentures (the "Additional Debentures"), which was a re-opening of the series Q senior unsecured debentures, the original issuance of which was completed on June 28, 2012. The Additional Debentures were offered pursuant to an agency agreement with a syndicate of agents, co-led by RBC Capital Markets, TD Securities Inc. and Scotia Capital. The Additional Debentures carry a coupon rate of 3.85% and mature on June 28, 2019.

The offering was made under RioCan's base shelf short form prospectus dated June 11, 2012. The terms of the offering are described in a prospectus supplement dated July 16, 2012, which was filed with Canadian securities regulators.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $13 billion as at March 31, 2012. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 333 retail properties containing an aggregate of 80 million square feet, including 46 grocery anchored and new format retail containing 12 million square feet in the United States through various joint venture arrangements. RioCan's portfolio also includes 10 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.