Scott's Real Estate Investment Trust announces January distribution



    TORONTO, Jan. 16 /CNW/ - Scott's Real Estate Investment Trust (TSX:
SRQ.UN) (Scott's REIT), owner of 207 retail and restaurant properties in seven
provinces across Canada, today announced a cash distribution for the month of
January 2009 of $0.0708 per unit payable on February 17, 2009 to Unitholders
of record on January 30, 2009.
    Scott's REIT also announced today a monthly cash distribution of $0.0708
per unit to Unitholders of record of Class B Limited Partnership Units in
Scott's Real Estate LP on January 30, 2009. This distribution marks the 38th
consecutive cash distribution declared since Scott's REIT began operations on
October 6, 2005.
    Scott's REIT's policy is to pay cash distributions on or about the 15th
of each month to Unitholders of record on the last business day of the
preceding month. Unitholders who are non-residents of Canada will be required
to pay all withholding taxes payable on any distributions by Scott's REIT.

    About Scott's Real Estate Investment Trust

    Scott's REIT (TSX: SRQ.UN) is Canada's premier small-box retail property
owner with 207 properties in seven provinces across Canada. Scott's REIT's
properties are well-located and geographically diverse across Canada and
nearly all properties are long-term quadruple net leases. The REIT has
approximately 69.1 per cent interest in Scott's Real Estate LP. To find out
more about Scott's Real Estate Investment Trust (TSX: SRQ.UN), visit our
website at http://www.scottsreit.com.

    Forward-looking statements

    This media release contains forward-looking statements. Such statements
are based on current expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might differ
materially from projections suggested in any forward-looking statements due to
factors such as the competitive nature of the quick service restaurant
industry, the ability of Scott's REIT and Scott's Real Estate LP to execute a
growth and development strategy, the reliance of Scott's REIT and Scott's Real
Estate LP on key personnel, on Priszm LP and risk associated with the
structure of income trusts. Scott's REIT and Scott's RE LP assume no
obligation to update the forward-looking statements, or to update the reasons
why actual results could differ from those reflected in the forward-looking
statements. Additional information identifying risks and uncertainties is
contained in Scott's REIT filings with the Canadian securities regulators,
available at www.sedar.com.

    %SEDAR: 00022537E




For further information:

For further information: For investor information, please contact: Trish
Moran, (416) 624-5133, trish.moran@scottsreit.com; For media information,
please contact: Wilcox Group, (416) 203-6666, scottsreit@wilcoxgroup.com

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