Morguard Real Estate Investment Trust Completes Sale Of Partial Interests In Two Alberta Based Office Buildings



    MISSISSAUGA, ON, Jan. 30 /CNW/ - Morguard Real Estate Investment Trust
(TSX: MRT.UN) today announced that it had completed the sale of two separate
forty per cent (40%) interests in Scotia Place, a 560,000 square foot Class A
office building located in Edmonton, Alberta. The purchasers were two major
Canadian pension fund organizations.
    The Trust also announced that it had completed the sale of a 50%
ownership interest in 505-3rd Street SW., a 140,000 square foot office
building located in Calgary, Alberta. The purchaser was a major Canadian
pension fund organization.

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    Morguard REIT is a closed-end real estate investment trust, which owns a
diversified portfolio of 49 high quality retail, office and mixed-use
properties in Canada with an approximate asset book value of $1.2 billion and
approximately 8.1 million square feet of leaseable space.
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For further information:

For further information: Mr. K. (Rai) Sahi, Chief Executive Officer, T
J. Walker, Chief Financial Officer, Morguard Real Estate Investment Trust, 55
City Centre Drive, Suite 1000, Mississauga, ON, L5B 1M3, T: (905) 281-4800, F:
(905) 281-4818, Email: rsahi@morguard.com, twalker@morguardreit.com, Website:
www.morguardreit.com


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