Morguard Sunstone Real Estate Income Fund Adjourns Special Meeting to May 23, 2012

VANCOUVER, May 10, 2012 /CNW/ - Sunstone Investment Management Inc., the manager for the Morguard Sunstone Real Estate Income Fund (the "Fund") (TSX: MSN.UN), today announced that the special meeting of unitholders of the Fund scheduled for, and convened on May 9, 2012, was adjourned due to the lack of requisite quorum.

The special meeting has been adjourned to May 23, 2012 at 11:00 a.m. (Pacific Time) at the office of Sunstone Investment Management Inc. located at 910 - 925 West Georgia Street, Vancouver, British Columbia V6C 3L2. Pursuant to the declaration of trust of the Fund dated June 18, 2010 the quorum for the transaction of business at the adjourned special meeting will be the unitholders of the Fund present by person or by proxy.

The Fund's notice of meeting, information circular and form of proxy in respect of the special meeting remain unchanged and each is available under the Fund's profile on SEDAR at www.sedar.com.

Proxies previously submitted in respect of the meeting will be voted at the adjourned special meeting unless properly revoked. Given the adjournment, proxies may now be received by our registrar and transfer agent, Computershare Investor Services Inc., no later than May 21, 2012 at 11:00 a.m. (Pacific Time). Proxies received by Computershare after this time will not be accepted.

About Morguard Sunstone Real Estate Income Fund

The Fund, a closed-end investment fund, was created to provide Unitholders with the opportunity for (i) stable monthly distributions and (ii) long-term capital appreciation, through investment in an actively managed, diversified portfolio of publicly traded real estate securities, including securities of Canadian and United States real estate investment trusts ("REITs") and real estate operating companies and the companies that provide services to them and, to a lesser extent, bonds, convertible debentures and similar fixed-income securities, and securities of foreign issuers.

Additional information about Morguard Sunstone Real Estate Income Fund is available at www.sunstoneinvestments.com or www.sedar.com.  Further Information about Morguard Financial Corp., the Investment Manager, is available at www.morguard.com.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

Andrew Greig, Investor Relations
Sunstone Investment Management Inc.
Suite 910, 925 West Georgia Street
Vancouver, BC  V6C 3L2
Phone: [phone] or [phone]
E-mail: [email protected]