Lakeview Hotel REIT Announces Results of Special Meeting

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S NEWS WIRE SERVICES/

WINNIPEG, Dec. 6, 2012 /CNW/ - Lakeview Hotel Real Estate Investment Trust (TSXV:LHR.UN) (the "REIT") is pleased to announce that its unitholders overwhelmingly approved the proposed conversion (the "Conversion") of the REIT from a mutual fund trust into a corporation called Lakeview Hotel Investment Corp. ("LHIC") at a special meeting of the REIT's unitholders held on December 6, 2012. Subject to receipt of a final order from the Manitoba Court of Queen's Bench and the satisfaction or waiver of all other closing conditions (as such conditions are set out in the Arrangement Agreement dated October 11, 2012 and filed on SEDAR), the Conversion is expected to take effect no later than December 31, 2012 at 11:59 p.m. (Ottawa Time).

About the REIT

Lakeview REIT is a real estate investment trust, which is listed on the TSX Venture Exchange under the symbol "LHR.UN".  Lakeview REIT receives income from ownership, management and licensing of hotel properties.  For further information on Lakeview REIT please visit our website www.lakeviewreit.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Lakeview Hotel Real Estate Investment Trust

For further information:

Keith Levit, President, or Avrum Senensky, Executive Vice President
Tel: (204) 947-1161, Fax: (204) 957-1697, Email asenensky@lakeviewhotels.com