RioCan Real Estate Investment Trust Announces Distribution for Preferred Units, Series A

TORONTO, ONTARIO--(Marketwire - March 28, 2011) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.PR.A) today announced a distribution of $0.2301 per preferred unit, Series A (the "Series A Units") for the period commencing January 26, 2011 and ending March 31, 2011. The distribution will be payable on March 31, 2011 to unitholders of the Series A Units of record as at March 31, 2011.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $10.1 billion as at December 31, 2010. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 297 retail properties, including 10 under development, containing an aggregate of over 66 million square feet. RioCan owns an 80% interest in 31 grocery anchored and new format retail centres in the United States through various joint venture arrangements. In addition, RioCan owns a 14% equity interest in Cedar Shopping Centers, Inc., a real estate investment trust focused on supermarket-anchored shopping centres and drug store-anchored convenience centres located predominantly in the Northeastern United States. For further information, please refer to RioCan's website at www.riocan.com.