Artis Real Estate Investment Trust announces monthly cash distribution

    WINNIPEG, Nov. 16 /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 November, 2007. The cash distributions will be made on December 14,
2007 to Unitholders of record on November 30, 2007.
    As at the date hereof, there are an aggregate of 31,861,391 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.
    Including all owned and proposed acquisitions, Artis will own or have an
ownership interest in approximately $1.1 billion of commercial property; the
REIT's proportionate share will be approximately 6.3 million square feet of
the total leasable area in 84 properties. Leasable area will be approximately
31.1% in Manitoba, 6.6% in Saskatchewan, 55.4% in Alberta, and 6.9% in B.C; by
asset class the portfolio will be 31.4% retail, 43.3% office and 25.3%
    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, Mr. Jim Green, Chief Financial Officer, or Ms. Kirsty
Stevens, Senior VP - Investor Relations, (204) 947-1250

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