Huntingdon Real Estate Investment Trust announces results of special meeting

RICHMOND, BC, Sept. 26, 2011 /CNW/ - Huntingdon Real Estate Investment Trust (the "Trust" or "HREIT") (TSX: HNT.UN) is pleased to announce that unitholders overwhelmingly approved the proposed conversion (the "Conversion") of the Trust into a corporation ("New Huntingdon") at a special meeting of the Trust's unitholders held on September 26, 2011 (the "Unitholder Meeting"). Subject to receipt of a final order from the Supreme Court of British Columbia and the satisfaction or waiver of all other closing conditions, the Conversion is expected to take effect on or about December 31, 2011.  At the Unitholder Meeting, unitholders also ratified and confirmed the Trust's existing deferred unit plan (the "Deferred Unit Plan") and further ratified the grant by the Trust of 9,402 deferred units from June 18, 2011 to the date of the Unitholder Meeting under the Deferred Unit Plan, each as more particularly described in the management information circular dated August 29, 2011 delivered to unitholders in connection with the Unitholder Meeting.

Conditions precedent to the completion of the Conversion include, without limitation, the approval of an extraordinary resolution of the holders of the Trust's 5-Year 7.5% Series C convertible redeemable unsecured subordinated debentures (the "Debentures") providing for an amendment to the definition of "Change of Control" in the trust indenture governing the Debentures (the "Debenture Indenture") to clarify that the Conversion does not constitute a "Change of Control" within the meaning of the Debenture Indenture. The meeting of holders of Debentures (the "Debentureholder Meeting") was scheduled to take place on September 26, 2011, following the Unitholder Meeting. As the requisite quorum was not present, the Debentureholder Meeting stands adjourned and is expected to be reconvened, with notice, on a date that is not less than 14 days and not more than 60 days following the Debentureholder Meeting, in accordance with the terms of the Debenture Indenture.

HREIT is a real estate investment trust which is listed on the Toronto Stock Exchange under the symbols HNT.UN (Trust Units) and HNT.DB.C (Series C Convertible Debentures).  HREIT owns, directly or indirectly, 76 income producing office, industrial, retail and standalone parking lot properties, including the aviation-related facilities at five of Canada's leading international airports that have a total gross leasable area of 5.5 million square feet; and two land parcels held for development, with other development and expansion opportunities within the portfolio.

Notice to Readers

Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. The forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations including, but not limited to, the risks detailed from time to time in HREIT's filings with Canadian provincial securities regulators, available on SEDAR at HREIT cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and HREIT does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change, except as required by applicable law.

The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

SOURCE Huntingdon Real Estate Investment Trust

For further information:

Zachary R. George, Trustee, President and Chief Executive Officer
Tel: (604) 249-5119
Fax: (604) 249-5101

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Huntingdon Real Estate Investment Trust

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