Temple REIT announces issuance of options



    WINNIPEG, Jan. 29 /CNW/ - Temple Real Estate Investment Trust ("TREIT")
(TSX Venture: TR.UN) announced today the issuance of an aggregate total of
400,000 incentive options ("Options") to purchase TREIT trust units ("Units"),
exercisable at $6.19 per Unit. The Options have been issued pursuant to
TREIT's unit option plan.
    The Units issued upon exercise of the Options will be subject to a
minimum hold period of four months and a day from the date of the grant of the
Options in accordance with applicable securities laws and the policies of the
TSX Venture Exchange.

    TREIT is a real estate investment trust, which is listed on the TSX
Venture Exchange under the symbol TR.UN. The objective of TREIT is to provide
Unitholders with stable cash distributions from investment in a geographically
diversified Canadian portfolio of hotel properties and related assets. There
are currently 9,484,397 trust units outstanding. For further information on
TREIT, please visit our website at www.treit.ca.

    The TSX Venture Exchange has not reviewed or approved the contents of
    this press release and does not accept responsibility for the adequacy or
    accuracy of this press release.





For further information:

For further information: Arni Thorsteinson, Chief Executive Officer, or
Gino Romagnoli, Investor Relations, Tel: (204) 475-9090, Fax: (204) 452-5505,
Email: info@treit.ca


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