/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWS WIRE SERVICES/
WINNIPEG, Jan. 16 /CNW/ - Huntingdon Real Estate Investment Trust
("HREIT") (TSX: HNT.UN) announced today that the Toronto Stock Exchange (the
"Exchange") has approved its notice of intention to make a normal course
issuer bid for its trust units ("Units") as appropriate opportunities arise
from time to time. HREIT's normal course issuer bid will be made in accordance
with the policies of the Exchange. HREIT may purchase its Units during the
period from January 21, 2008 to January 20, 2009.
Pursuant to the notice, HREIT intends to acquire over the next 12 months
up to 3,600,119 Units, representing 5% of the issued and outstanding Units.
There were 72,002,385 Units outstanding as of January 10, 2008. Purchases will
be made at market prices through the facilities of the Exchange. The average
daily trading volume of the Units for the most recently completed six calendar
months was 29,541 Units. Any tendered Units taken up and paid for by HREIT
will be cancelled. HREIT believes that the ongoing purchase by HREIT of
certain of its outstanding Units is an appropriate use of HREIT's resources at
this time due to the disparity between the market price and what HREIT
believes to be the underlying value of the Units. HREIT believes that
purchases of Units pursuant to the normal course issuer bid will benefit all
remaining Unitholders by increasing their proportionate equity interest and
voting interest in HREIT and affording liquidity to anyone who desires to sell
HREIT is a real estate investment trust, which is listed on the Toronto
Stock Exchange under the symbol HNT.UN. The objective of HREIT is to provide
Unitholders with stable cash distributions from investment in a geographically
diversified Canadian portfolio of quality commercial and industrial real
estate properties. There are currently 72,309,252 trust units outstanding. For
further information on HREIT, please visit our website at www.hreit.ca.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
For further information:
For further information: Arni Thorsteinson, Chief Executive Officer, or
Gino Romagnoli, Investor Relations, Tel: (204) 475-9090, Fax: (204) 452-5505,