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

TORONTO, ONTARIO--(Marketwired - Dec. 16, 2015) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.PR.A) (TSX:REI.PR.C) today announced the following distributions for RioCan's outstanding preferred trust units:

• $0.328125 per preferred unit, Series A (the "Series A Units") for the quarter ending December 31, 2015. The distribution will be payable on December 31, 2015 to unitholders of the Series A Units of record as at December 31, 2015.

• $0.29375 per preferred unit, Series C (the "Series C Units") for the quarter ending December 31, 2015. The distribution will be payable on December 31, 2015 to unitholders of the Series C Units of record as at December 31, 2015.

About RioCan

RioCan is Canada's largest real estate investment trust with a total enterprise value of approximately $15.1 bill1ion as at September 30, 2015. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 354 retail properties containing approximately 78 million square feet, including 49 retail properties containing 13 million square feet in the United States as at September 30, 2015. RioCan's portfolio also includes 16 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.