Temple REIT announces public offering of Convertible Debentures



    /NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
    NEWS WIRE SERVICES/

    WINNIPEG, March 6 /CNW/ - Temple Real Estate Investment Trust ("Temple
REIT") (TSX-V: TR.UN) announced today that it has filed a preliminary short
form prospectus dated March 6, 2008 (the "Preliminary Prospectus") to qualify
the distribution of 5 Year Series B Convertible Redeemable Debentures (the
"Debentures") in the aggregate principal amount of $25,000,000. The offering
will be made on a best efforts basis by a syndicate of investment dealers led
by Blackmont Capital Inc. and including Dundee Securities Corporation,
National Bank Financial Inc., Raymond James Ltd., Wellington West Capital
Inc., HSBC Securities (Canada) Inc. and Thomas Weisel Partners Canada Inc.
    The interest rate and conversion price of the Debentures will be
determined by Temple REIT and Blackmont Capital Inc. in the context of the
market.
    Temple REIT has applied to the TSX Venture Exchange (the "Exchange") to
list the additional Debentures sold pursuant to the offering and the
additional trust units issuable upon conversion of the Debentures. Listing is
subject to Temple REIT satisfying all requirements of the Exchange.
    Temple REIT intends to use the net proceeds of the offering to fund the
acquisition of additional hotel properties and assets and for general
purposes, as more particularly disclosed in the Preliminary Prospectus.

    Temple REIT is a real estate investment trust, which is listed on the
TSX Venture Exchange under the symbol TR.UN. The objective of Temple REIT is
to provide Unitholders with stable cash distributions from investment in a
geographically diversified portfolio of hotel properties, primarily in Canada.
There are currently 10,011,247 trust units outstanding. For further
information on Temple REIT, please visit our website at www.treit.ca.

    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this press release. The TSX Venture Exchange does not accept
    responsibility for the adequacy or accuracy of this press release.

    This press release contains forward-looking statements. Temple REIT is
subject to significant risks and uncertainties which may cause the actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied in these
forward-looking statements. Such risk factors include, but are not limited to,
risks associated with real property ownership, the impact of general economic
conditions, industry conditions, interest rate fluctuations, tax-related risk
factors, governmental regulation, environmental risks, competition from other
industry participants, stock market volatility, the ability to access
sufficient capital from internal and external sources and the risk of
fluctuation and variation in actual operating results, which variation may be
material. Temple REIT cannot assure investors that actual results will be
consistent with any forward-looking statement and does not assume any
obligation to update or revise such forward-looking statements to reflect
actual events or new circumstances, except as expressly required by applicable
securities laws.





For further information:

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


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890