Cominar announces a unit repurchase program

    QUEBEC CITY, Feb. 27 /CNW Telbec/ - Cominar Real Estate Investment Trust
announced that its Board of Trustees approved a unit repurchase program,
authorizing Cominar to purchase up to 2,265,278 of the 45,305,565 units issued
and outstanding as at February 25, 2008 (representing 5% of Cominar's issued
and outstanding Units as at that date). The unit repurchase program will be
effected in accordance with applicable securities laws and is subject to the
approval of Toronto Stock Exchange. If purchases are effected under the unit
repurchase program, the number of units issued and outstanding will be reduced
and the proportionate interest of all remaining unitholders in the capital of
Cominar will be increased on a pro rata basis.
    If approved, Cominar will have the flexibility to purchase units under
the program on the open market through the facilities of Toronto Stock
Exchange, from time to time, over the course of twelve months commencing on or
about the date on which the program is approved by Toronto Stock Exchange. All
units purchased under the unit repurchase program will be cancelled.

    Portfolio as at February 27, 2008

    Cominar is one of the largest retail property owners and managers in the
Province of Québec. Cominar owns a real estate portfolio of 208 high quality
properties, consisting of 36 office, 38 retail and 134 industrial and
mixed-use buildings that cover a total area of over 17 million square feet in
the Greater Quebec City, Montreal and Ottawa areas. Cominar's objectives are
to deliver growing cash distributions to its unitholders and to maximize
unitholder value through proactive management and the growth of its portfolio.
    %SEDAR: 00010204EF

For further information:

For further information: Mr. Michel Dallaire, P.Eng., President and
Chief Executive Officer, Cominar Real Estate Investment Trust, (418) 681-8151

Organization Profile

Cominar Real Estate Investment Trust

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