Artis Real Estate Investment Trust announces monthly cash distribution

    WINNIPEG, Aug. 15 /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 $0.09 per trust unit ("Unit") of Artis for the
month of August, 2008. The cash distributions will be made on September 15,
2008 to Unitholders of record on August 31, 2008.
    As at the date hereof, there are an aggregate of 32,980,313 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.
    Artis owns approximately $1.3 billion of commercial property, comprising
approximately 6.27 million square feet of leasable area in 86 properties.
Leasable area is approximately 30.7% in Manitoba, 7.9% in Saskatchewan, 55.8%
in Alberta, and 5.6% in B.C.; by asset class the portfolio is 33.0% retail,
41.6% office and 25.4% 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, Mr. Jim Green, Chief Financial Officer or Ms. Kirsty
Stevens, Senior VP - Investor Relations, (204) 947-1250

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