Killam announces dividend



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
    CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./

    HALIFAX, June 19 /CNW/ - Killam Properties Inc. (TSX:KMP) is pleased to
announce that its board of directors has declared a dividend pursuant to
Killam's monthly dividend policy. The dividend of $0.046668 per common share
will be paid on July 15, 2008 to shareholders of record on June 30, 2008.

    Killam Properties Inc., based in Halifax, Nova Scotia, is one of Canada's
largest residential landlords, owning and operating multi-family apartments
and manufactured home communities.

    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in any jurisdiction. The common
shares of Killam have not and will not be registered under the United States
Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of
any state of the United States, and may not be offered or sold in the United
States or to any U.S. person absent registration or an applicable exemption
therefrom under the 1933 Act and the securities laws of all applicable states.

    Note: The Toronto Stock Exchange has neither approved or disapproved of
    the information contained herein.




For further information:

For further information: Killam Properties Inc., Dale Noseworthy,
Director, Investor & External Relations, Phone: (902) 442-0388, Fax: (902)
455-4525, dnoseworthy@killamproperties.com, www.killamproperties.com

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Killam Properties Inc.

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