Plazacorp announces changes to its blackout policy



    FREDERICTON, Jan. 12 /CNW/ - Plazacorp Retail Properties Ltd. (PLZ:TSX
Venture) announced today that its Board of Directors has approved a temporary
partial waiver of its blackout policy that applies to insiders, directors,
officers and employees. Under the temporary partial waiver, insiders,
directors, officers and employees will be permitted to purchase securities of
Plazacorp Retail Properties Ltd. provided that they are not in possession of
material undisclosed information relating to Plazacorp Retail Properties Ltd.
The Board of Directors has taken this step in light of conditions in the
financial and stock markets, which have resulted in what Plazacorp Retail
Properties believes is a significant and unwarranted drop in the trading price
of its shares.
    The blackout policy restricts the ability of Plazacorp Retail Properties
Ltd's insiders, officers and employees from purchasing or selling securities
of Plazacorp Retail Properties Ltd during certain periods such as when
quarterly or annual financial statements are being prepared but results have
not yet been publicly disclosed. The temporary partial waiver will continue in
effect until two days following the release of Plazacorp's annual financial
results. Insiders, directors, officers and employees will remain unable to
purchase or sell securities of Plazacorp Retail Properties Ltd if they are in
possession of material undisclosed information relating to Plazacorp Retail
Properties Ltd.

    Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip
plazas throughout the Atlantic Provinces, Quebec and Ontario. Plazacorp, as at
January 12, 2009 now owns interests in 93 properties comprising 4.3 million
square feet of retail real estate.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    %SEDAR: 00012014E




For further information:

For further information: on Plazacorp, visit our website at www.plaza.ca
or contact: Earl Brewer, Chairman or Kim Sharpe, Director of Business
Development, (506) 451-1826


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