Royal Host Real Estate Investment Trust

Royal Host Real Estate Investment Trust

April 30, 2009 09:17 ET

Royal Host Announces Maturity of 7.9% Convertible Debentures and Confirms Conversion Prices

CALGARY, ALBERTA--(Marketwire - April 30, 2009) - Royal Host Real Estate Investment Trust ("Royal Host" or the "Trust") (TSX:RYL.UN) (TSX:RYL.DB.B) (TSX:RYL.DB.C) (TSX:RYL.DB.D) today announced maturity of its 7.9% Convertible Unsecured Subordinated Debentures, Series A (the "Series A Debentures"). The Series A Debentures, previously traded on the TSX under the symbol RYL.DB.A, will be delisted effective the close of market today.

As a result of the Trust's special distribution and pursuant to the terms and conditions of the Trust Indenture dated February 21, 2002, as supplemented by a Supplemental Trust Indenture thereto, the conversion prices of the Trust's convertible debentures were adjusted effective from and after the close of business on December 29, 2008. As previously disclosed, the adjusted conversion price of the Series A Debentures is $3.63 per unit, and the adjusted conversion prices of Royal Host's remaining convertible debentures are $4.14, $4.23 and $5.38 per unit, respectively, for the Series B Debentures maturing October 31, 2015; the Series C Debentures maturing September 30, 2013; and the Series D Debentures maturing June 30, 2014.

Royal Host is a uniquely diversified hospitality trust that delivers Unitholder value through hotel ownership, investment, management and franchising. Royal Host's portfolio of Canadian hotels operates under a variety of recognizable brands as well as a number of unbranded properties. The Trust's hotel portfolio is further enhanced by a portfolio of publicly-traded securities from within the hospitality and service sectors, a stable franchising business and a successful hotel management operation.

Royal Host trust units and convertible debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL.UN", "RYL.DB.B", "RYL.DB.C" and "RYL.DB.D", respectively.

Contact Information