Artis Real Estate Investment Trust announces monthly cash distribution

    WINNIPEG, Aug. 20 /CNW/ - Artis Real Estate Investment Trust (TSX: AX.UN)
("Artis" or the "REIT") announced that its trustees have declared its regular
monthly cash distribution of $0.0875 per trust unit ("Unit") of Artis for the
month of August, 2007. The cash distributions will be made on September 14,
2007 to unitholders of record on August 31, 2007.
    As at the date hereof, there are an aggregate of 27,513,475 Units and
Class B exchangeable limited partnership units of AX L.P. issued and
    Artis is a growth-oriented real estate investment trust focused
exclusively on commercial properties located in primary and growing secondary
markets in western Canada, particularly in Alberta. The REIT's goal is to
provide unitholders the opportunity to invest in high-quality western Canadian
office, retail and industrial properties, as well as to provide monthly cash
distributions that are stable, tax efficient, and growing over time. To date,
Artis has acquired approximately $825 million of commercial property;
approximately 17.4% in Manitoba, 10.4% in Saskatchewan, 69.0% in Alberta, and
3.2% in B.C. Artis owns 52 properties, comprising over 4.4 million square feet
of leasable area (33.0% retail, 52.9% office and 14.1% industrial).
    The REIT's Distribution Reinvestment Plan ("DRIP") allows Unitholders to
have their monthly cash distributions used to purchase trust units without
incurring commission or brokerage fees, and receive bonus units equal to 4% of
their monthly cash distributions. More information can be obtained at

    The Toronto Stock Exchange does not accept responsibility for the
    adequacy or accuracy of this press release.

For further information:

For further information: Mr. Armin Martens, President and Chief
Executive Officer or Mr. Jim Green, Chief Financial Officer at (204) 947-1250

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