Holloway Lodging Real Estate Investment Trust Receives Conditional Approval For TSX Listing



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

    HALIFAX, June 28 /CNW/ - Holloway Lodging Real Estate Investment Trust
(TSXV: HLR.UN, HLR.DB, HLR.DB.A) ("Holloway" or the "REIT") today announced
that the Toronto Stock Exchange ("TSX") conditionally approved the listing of
the REIT's trust units and debentures on the TSX. The proposed TSX listing of
the REIT's trust units and debentures and associated delisting from the TSX
Venture Exchange is subject to the REIT fulfilling all of the requirements of
the TSX on or before September 11, 2007. The REIT expects to fulfill such
conditions and be listed on the TSX in mid-July.

    About Holloway

    The REIT is focused on acquiring, owning and operating select and limited
service lodging properties and a small complement of full service hotels
primarily in secondary, tertiary and suburban markets in Canada. The REIT's
hotel portfolio currently consists of 20 properties, which are located in
British Columbia (2), Alberta (13), Nova Scotia (3), New Brunswick (1) and
Northwest Territories (1).

    This press release contains forward-looking information within the
meaning of applicable securities laws. In some cases, forward-looking
information can be identified by 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 is subject to certain
factors, including risks and uncertainties, that could cause actual results to
differ materially from what the REIT currently expects and there can be no
assurance that such statements will prove to be accurate. Some of these risks
and uncertainties are described under "Risk Factors" in the REIT's prospectus
dated June 13, 2007.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press release.

    %SEDAR: 00023845E




For further information:

For further information: Mr. Glenn Squires, Chief Executive Officer or
Ms. Tracy Sherren, Chief Financial Officer, (902) 457-1907

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Holloway Lodging Real Estate Investment Trust

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