Killam announces dividend



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES./

    HALIFAX, April 20 /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 May 15, 2009 to shareholders of record on April 30, 2009.
    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: Dale Noseworthy, Director, Investor & External
Relations, Killam Properties Inc., (902) 442-0388, Fax: (902) 455-4525,
dnoseworthy@killamproperties.com; www.killamproperties.com

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Killam Properties Inc.

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