Slate U.S. Opportunity (No. 1) Realty Trust Announces Distribution

/NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, June 28, 2013 /CNW/ - Slate U.S. Opportunity (No. 1) Realty Trust (the "Trust") announced today a cash distribution on the outstanding Class A units, Class U units and Class I units of the Trust (collectively, the "Units") in the aggregate amount of U.S.$1,155,000. Pursuant to the amended and restated declaration of trust dated March 29, 2012 (the "Trust Declaration"), the distribution per class of Units will be as follows:

a) C$0.21148 per Class A unit (converted from U.S. $0.20170 per Class A unit in accordance with the Trust Declaration);

b) U.S.$0.20015 per Class U unit; and

c) U.S.$0.21124 per Class I unit (adjusted to reflect that the class I units were not subject to Agents' Fees (as defined in the Trust Declaration)).

The distribution will be paid on July 15, 2013 to unitholders of record as at June 28, 2013.

The above mentioned distributions are net of U.S. Federal and State Income taxes paid by the Trust on behalf of the unitholders for which the unitholders will be receiving a foreign tax credit.

About Slate U.S. Opportunity (No. 1) Realty Trust and Slate Properties Inc.

The Trust was established for the primary purpose of indirectly acquiring, owning and leasing a portfolio of diversified revenue-producing commercial real estate properties in the U.S. with a focus on anchored retail properties. The Trust indirectly owns a portfolio of 13 properties. Slate Properties Inc. ("Slate") is the manager of the Trust and is a Toronto-based commercial real estate investor and asset manager. Slate's founding partners have nearly two decades of experience in the industry managing complex real estate transactions in domestic and international markets. Since 2005, the company has acquired over C$2.2 billion of commercial real estate assets across North America. The company currently co-invests and manages various investment vehicles, including Slate U.S. Opportunity (No. 1) Realty Trust, Slate U.S. Opportunity (No. 2) Realty Trust, and a closed-end private fund focused on U.S. retail assets, in addition to the company's co-investments and management of Canadian office properties with domestic institutional equity groups.

SOURCE: SLATE PROPERTIES INC.

For further information:

Blair Welch, Chief Executive Officer, Tel: (416) 644-4267 or Brady Welch, Chief Financial Officer, Tel: (416) 644-4263

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SLATE PROPERTIES INC.

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