IPC US REIT Declares September 2007 Distribution



    /NOT FOR DISSEMINATION OVER UNITED STATES NEWSWIRE SERVICES/

    All amounts are expressed in US dollars

    TORONTO, Sept. 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 October 15, 2007, to the unitholders of record on
September 28, 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 October 15,
2007.
    A unitholder who wishes to receive the distribution in Canadian dollars
should contact his or her broker prior to September 28, 2007 to ensure that
the units are Canadian dollar quoted units.

    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 87.1% interest in IPC (US), Inc. ("IPC US") which has ownership interests
in a portfolio of 35 office buildings, comprising a total of 9.6 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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