Northern Property Real Estate Investment Trust Announces JULY 2008 distribution



    CALGARY, July 15 /CNW/ - Northern Property Real Estate Investment Trust
("NPREIT") (NPR.UN - TSX) announced its July 2008 monthly distribution in the
amount of $0.1233 cents per unit, payable on August 15, 2008 to unitholders of
record at July 31, 2008.
    As at the date hereof, there are 22,699,561 Trust Units and 2,334,284
Class B exchangeable limited partnership units of NPR.UN issued and
outstanding.





For further information:

For further information: Mr. Todd R. Cook, Chief Financial Officer,
(403) 531-0720

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Northern Property Real Estate Investment Trust

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