"KEYreit" new name for Scott's REIT effective July 9, 2012

New ticker symbol "KRE.UN"

TORONTO, July 6, 2012 /CNW/ - Effective, Monday, July 9, 2012, "KEYreit" (or the "REIT") is the new name for Scott's Real Estate Investment Trust (TSX: SRQ.UN).

Concurrent with the name change, the REIT's trust units will cease trading on the Toronto Stock Exchange (the "TSX") under the stock symbols "SRQ.UN" and commence trading under the new symbol "KRE.UN". Similarly, the REIT's Series A, B and C convertible debentures will commence trading under the symbols KRE.DB , KRE.DB.A and KRE.DB.B, respectively.

KEYreit will begin to put the name change into effect at all of its locations and operations, and in its external and internal communications.

"The diversity of our assets, tenants and locations will be the key to KEYreit's success going forward," stated Chief Executive Officer John Bitove. "We are excited about the future of KEYreit and look forward to growing and building our key relationships in the real estate and financial communities across Canada."

About KEYreit
KEYreit (TSX: KRE.UN) is Canada's premier small-box retail property owner with 229 properties in eight provinces across Canada. The REIT's properties are well located and geographically diverse across Canada with the majority of all properties containing long-term quadruple net leases. To find out more about KEYreit (TSX: KRE.UN), visit our website at www.keyreit.com

Forward-Looking Statements

This document contains certain information that may constitute forward-looking information within the meaning of securities laws. In some cases, forward-looking information can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Forward-looking information may relate to management's future outlook and anticipated events or results. Forward looking-information is subject to certain factors, including risks and uncertainties, which could cause actual results to differ materially from what is currently expected. Such factors include risks relating to the REIT's reliance on key tenants, risks associated with investment in real property, competition, reliance on key personnel, financing and refinancing risks, distributions, environmental matters, tenant risks, risks related to current economic conditions and other risk factors more particularly described in the REIT's Annual Information Form for the year ended December 31, 2011. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Other than as required by applicable Canadian securities law, the REIT does not undertake to update this information at any particular time. Additional information identifying risks and uncertainties is contained in the REIT's REIT filings with the Canadian securities regulators, available at www.sedar.com.

SOURCE Scott's Real Estate Investment Trust

For further information:

For investor information, please contact:
Teresa Neto
Chief Financial Officer
416-361-9953
teresa.neto@scottsreit.com

For media information, please contact:
Trevor Boudreau
778-991-7412
trevor.boudreau@scottsreit.com

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Scott's Real Estate Investment Trust

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KEYreit

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