Lanesborough REIT announces issuance of options



    WINNIPEG, June 8 /CNW/ - Lanesborough Real Estate Investment Trust
("LREIT") (TSX: LRT.UN) announced today the issuance of an aggregate of
120,000 incentive options ("Options") to purchase its trust units ("Units"),
exercisable at $5.30 per Unit. The four independent trustees will each receive
30,000 Options, which will vest immediately. The Options have been issued
pursuant to LREIT's unit option plan.
    The Units issued upon exercise of the Options will be subject to a
minimum hold period of four months and a day from the date of the grant of the
Options.

    LREIT is a real estate investment trust, which is listed on the Toronto
Stock Exchange under the symbol LRT.UN. The objective of LREIT is to provide
Unitholders with stable cash distributions from investment in a geographically
diversified Canadian portfolio of quality real estate properties. There are
currently 17,460,228 trust units outstanding. For further information on
LREIT, please visit our website at www.lreit.com.

    The TSX has not reviewed or approved the contents of this press release
    and does not accept responsibility for the adequacy or accuracy of this
    press release.





For further information:

For further information: Arni Thorsteinson, Chief Executive Officer, or
Gino Romagnoli, Investor Relations, Tel: (204) 475-9090, Fax: (204) 452-5505,
Email: info@lreit.com


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