BTB Real Estate Investment Trust files its final prospectus for a minimum $12 million and a maximum $17 million offering of convertible redeemable unsecured subordinated debentures



    MONTREAL, March 14 /CNW Telbec/ - BTB Real Estate Investment Trust
(TSX-V: BTB.UN) ("BTB REIT") is pleased to announce that on March 13, 2008 it
has filed its final short form prospectus ("Final Prospectus") relating to an
offering (the "Offering") to the public of Convertible Redeemable Unsecured
Subordinated Debentures (the "Debentures"), in the minimum aggregate principal
amount of $12,000,000 up to a maximum aggregate principal amount of
$17,000,000.
    The price of the Debentures has been set at $1,000 per Debenture. Each
Debenture will be convertible at the Debentureholder's option into fully-paid
units of the REIT ("Units") at any time prior to the close of business on the
earlier of the maturity date, or if called for redemption, on the business day
immediately preceding the date fixed by BTB REIT for redemption of the
Debentures, at a conversion price of $2.30 per Unit, subject to adjustment
upon the occurrence of certain events. The Debentures will not be redeemable
until March 31, 2011 at the earliest.
    The Offering is being made on a best efforts basis by a syndicate of
investment dealers led by Blackmont Capital Inc. and including National Bank
Financial Inc., Desjardins Securities Inc., Dundee Securities Corporation,
Raymond James Ltd. and Genuity Capital Markets G.P. (collectively, the
"Agents").
    BTB REIT intends to use the net proceeds of the Offering to fund
previously identified property acquisitions. Closing of the Offering is
expected to occur on or about March 20, 2008.
    A copy of the Final Prospectus can be found at www.sedar.com.

    Forward Looking Statements

    This press release contains forward looking statements. Forward-looking
statements are subject to risks, uncertainties and assumptions. Although the
trustees of BTB REIT believe that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct. Some of the factors and risks which
could affect future results and could cause results to differ materially from
those expressed in the forward-looking statements contained herein include the
impact of general economic conditions, industry conditions, governmental
regulation, environmental risks, competition from other industry participants,
stock market volatility, the ability to access sufficient capital from
internal and external sources and the risk of fluctuation and variation in
actual operating results, which variation may be material. A full description
of these risks and uncertainties can be found in BTB REIT's final prospectus
dated March 13, 2008 which is available electronically at www.sedar.com.
    The forward-looking statements contained herein are expressly qualified
in their entirety by this cautionary statement. The forward-looking statements
included herein are made as of the date hereof and BTB REIT does not undertake
any obligation to publicly update such forward-looking statements to reflect
new information, subsequent events or otherwise.

    The TSX Venture Exchange has in no way passed upon the merits of the
    transactions and has neither approved nor disapproved the contents of
    this press release. The TSX Venture Exchange does not accept
    responsibility for the adequacy or accuracy of this press release.




For further information:

For further information: BTB Real Estate Investment Trust: Mr. Michel
Leonard, President and Chief Executive Officer, (514) 866-1990 ext. 236;
Renmark Financial Communications Inc.: Maurice Dagenais,
mdagenais@renmarkfinancial.com; Victoria Stepanova,
vstepanova@renmarkfinancial.com; Media: François Trépanier,
ftrepanier@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717;
www.renmarkfinancial.com


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