PLAZACORP ANNOUNCES REGULAR QUARTERLY DIVIDEND

FREDERICTON, NB, April 1 /CNW/ - Plazacorp Retail Properties Ltd. (TSXV : PLZ) announced today that its Board of Directors has declared its regular quarterly cash dividend of $0.050625 per common share to be paid on May 16, 2011 to all common shareholders of record on April 15, 2011.

For income tax purposes the full amount of this dividend is an eligible dividend. 

Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip plazas throughout the Atlantic Provinces, Québec and Ontario. Plazacorp owns interests in 108 properties comprising 4.9 million square feet of retail real estate.

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

SOURCE PLAZACORP RETAIL PROPERTIES LTD.

For further information:

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

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PLAZACORP RETAIL PROPERTIES LTD.

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