/C O R R E C T I O N -- Northern Property Real Estate Investment Trust/

    In c9511 transmitted on March 12, 2007, please note that an
    error occurred in the phone numbers, first sentence, second paragraph
    which should read "416-644-3417 or 1-866-249-2157" not "416-644-3416 or
    1-800-732-9307". Also the Reservation No. should read "21216858" not
    "21223283". Full corrected copy follows:

    Rescheduled - Northern Property Release of fourth quarter earnings

    CALGARY, March 12 /CNW/ - Northern Property Real Estate Investment Trust
(NPR.UN) has rescheduled the release of its fourth quarter earnings to
March 19, 2007 to be followed by a conference call on March 20, 2007 at
9:00 a.m. Mountain Standard Time; 11:00 a.m. Eastern Standard Time.
Participating on the call will be Mr. B. James Britton (Chair), President &
C.E.O. and Ms. Debra Boyle, C.F.O.
    Investors and analysts are invited to participate in the call by calling
416-644-3417 or 1-866-249-2157. You will be required to provide the Conference
Call Operator with two pieces of information prior to being admitted to the
call. You will be asked for the Reservation No. 21216858 and the Chairperson:
Mr. B. James Britton. The call will be recorded and the recording made
available on our website on March 22, 2007.
    %SEDAR: 00017689E

For further information:

For further information: Mr. B. James Britton, President and Chief
Executive Officer or Ms. Debra Boyle, Chief Financial Officer at (403)

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Northern Property Real Estate Investment Trust

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