GE Real Estate completes equity investment in Dundee Real Estate Investment Trust



    TORONTO, Aug. 27 /CNW/ - GE Real Estate announced that it acquired today
3,473,687 trust units ("Units") of Dundee Real Estate Investment Trust (the
"REIT"), representing approximately 16% of the REIT's outstanding voting
securities on a fully diluted basis and being GE Real Estate's entire equity
investment in the REIT. The investment was completed pursuant to the terms of
the purchase agreement with respect to GE Real Estate's acquisition of the
REIT's portfolio of real estate assets located principally in Ontario, Québec,
Edmonton and Newfoundland (the "Transaction"), which closed on August 24,
2007. The Units were purchased at a cash price of $47.50 per Unit from
unitholders of the REIT who elected to have their Units redeemed and
transferred in connection with the Transaction.
    Concurrently with GE Real Estate's acquisition of Units, GE Real Estate
and the REIT entered into a customary registration rights agreement that
provides GE Real Estate with, among other things, demand and piggy-back
registration rights and a customary indemnity in connection with offerings in
which GE Real Estate participates as a selling security holder.
    GE Real Estate purchased the Units (consisting of 2,997,371 REIT Units,
Series A and 476,316 REIT Units, Series B) for investment purposes only and
may increase or decrease its equity investment in the REIT at any time
depending on market conditions and any other relevant factors from time to
time. This press release is being issued in accordance with the early warning
requirements of applicable Canadian securities laws.





For further information:

For further information: Katherine Lee, Managing Director, Canada, GE
Real Estate, Suite 800, P.O. Box 14, 123 Front Street West, Toronto, Ontario,
Tel: (416) 842-1725

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