BTB Real Estate Investment Trust announces that financing and refinancing hypothecary agreements have been entered into in order to acquire properties

    MONTREAL, July 24 /CNW Telbec/ - BTB Real Estate Investment Trust
(TSX-V: BTB.UN) ("BTB") is pleased to announce that it has entered into firm
hypothecary agreements pertaining to the financing and refinancing of certain
properties that it owns for an aggregate amount of $16.9 million at a weighted
average rate of 5.90%. Of this amount, $8.1 million will be used to reimburse
existing financings, consisting of an amount of $2.2 million bearing interest
at a rate of 6.95% and an amount of $5.9 million bearing interest at floating
rates and approximately $1.6 million will be used for the working capital of
BTB. The balance of approximately $7.2 million will be used for the imminent
acquisition of previously identified and announced properties.

    Forward Looking Statements

    This press release contains forward looking statements. Forward-looking
statements are subject to risks, uncertainties and assumptions. Although the
trustees of BTB believe that the expectations represented in such
forward-looking statements are reasonable, no assurance can be made that any
of the events anticipated by such statements will prove to be accurate or
occur or, if they do occur, what the effect on BTB would be. Some of the
factors and risks which could affect future results and could cause results to
differ materially from those expressed in the forward-looking statements
contained herein include the impact of general economic conditions, industry
conditions, governmental regulation, environmental risks, competition from
other industry participants, stock market volatility, the ability to access
sufficient capital from internal and external sources and the risk of
fluctuation and variation in actual operating results, which variation may be
material. A full description of these risks and uncertainties can be found in
BTB's Short Form Prospectus dated March 13, 2008 and Annual Information Form
dated April 28, 2008 which are available electronically at
    The forward-looking statements contained herein are expressly qualified
in their entirety by this cautionary statement. The forward-looking statements
included herein are made as of the date hereof and BTB does not undertake any
obligation to publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise, unless required to do so by law.

    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this press release. The TSX Venture Exchange does not accept
    responsibility for the adequacy or accuracy of this press release.

For further information:

For further information: Mr. Michel Léonard, President and Chief
Executive Officer, (514) 286-0188 ext. 228; Mr. Benoit Cyr, C.A., Vice
President and Chief Financial Officer, (514) 286-0188 ext. 230

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