IPC US REIT Declares April 2007 Distribution



    /NOT FOR DISSEMINATION OVER UNITED STATES NEWSWIRE SERVICES/

    TORONTO, April 18 /CNW/ - IPC US REIT (TSX: US$:IUR.U, C$:IUR.UN)
announced today that a distribution of US6.67 cents per unit has been
declared, payable on May 15, 2007, to the unitholders of record on April 30,
2007.
    A unitholder who holds US-dollar-quoted units under the symbol "IUR.U"
will be paid the distribution in US dollars. A unitholder who holds
Canadian-dollar-quoted units under the symbol "IUR.UN" will be paid the
distribution in Canadian dollars based on the exchange rate on May 15, 2007.
    A unitholder who wishes to receive the distribution in Canadian dollars
should contact his or her broker prior to April 30, 2007 to ensure that the
units are Canadian dollar quoted units.
    IPC US REIT has a distribution reinvestment plan ("DRIP") available to
its unitholders. The DRIP allows participants to have their monthly cash
distributions reinvested in additional units of the REIT at an effective
discount of 3% to the REIT's market price. This DRIP program offers
unitholders the opportunity to steadily increase their ownership in the REIT
without commissions or brokerage fees. Unitholders whose units are registered
in the name of an investment banker, stockbroker, bank, trust company or other
nominee should contact such nominee if they wish to enroll in the plan.

    About IPC US REIT

    IPC US REIT is the only real estate investment trust in Canada that
invests exclusively in U.S. commercial real estate. The REIT beneficially owns
an 86.8% interest in IPC (US), Inc. ("IPC US") which has ownership interests
in a portfolio of 35 office buildings, comprising a total of 10.1 million
square feet of rentable space.
    The units of the REIT are listed on the Toronto Stock Exchange under the
symbol "IUR.UN" for Canadian dollar quoted units and "IUR.U" for US dollar
quoted units. For more information on IPC US REIT, please visit the REIT's
website at www.ipcreit.com.

    %SEDAR: 00017112E




For further information:

For further information: Y. Dov Meyer, Chief Investment Officer, IPC US
REIT, Tel: (416) 929-0514, Fax: (416) 929-5314, investorrelations@ipcreit.com

Organization Profile

IPC US REAL ESTATE INVESTMENT TRUST

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