Lakeview Hotel REIT announces Purchase of Units by LHL Holdings Ltd.

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S NEWS WIRE SERVICES/

WINNIPEG, July 31, 2012 /CNW/ - Lakeview Hotel Real Estate Investment Trust ("Lakeview REIT") announced today that LHL Holdings Ltd. ("LHL") of 600-185 Carlton Street, Winnipeg, Manitoba, R3C 3J1 has, through a series of transactions between June 14, 2012 and July 31, 2012 acquired an aggregate of 407,500 Class A units of Lakeview REIT through the facilities of the TSX Venture Exchange.  The weighted average purchase price of the Units is $0.3324 per Unit.  As a result, LHL owns or controls, along with those parties acting jointly or in concert with it, including Lakeview Management Inc., 11,094,885 Units or securities convertible into Units of the Lakeview REIT representing 56.07% of the outstanding Units.

A copy of the early warning report will be available on SEDAR at www.sedar.com.

Lakeview REIT is a real estate investment trust, which is listed on the TSX Venture Exchange under the symbol "LHR.UN".  Lakeview REIT receives income from ownership, management and licensing of hotel properties.  For further information on Lakeview REIT please visit our website www.lakeviewreit.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Lakeview Hotel Real Estate Investment Trust

For further information:

Keith Levit, President, or Avrum Senensky, Executive Vice President

Tel: (204) 947-1161, Fax: (204) 957-1697, Email asenensky@lakeviewhotels.com

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Lakeview Hotel Real Estate Investment Trust

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