Huntingdon REIT announces the acquisition of Winnipeg industrial property

    WINNIPEG, March 29 /CNW/ - Huntingdon Real Estate Investment Trust
("HREIT") (TSX: HNT.UN) announced today that it has agreed to acquire a 37,000
square foot light industrial property in Winnipeg, Manitoba for $2,850,000,
subject to the usual closing adjustments. The property is located on land
leased from the Winnipeg Airport Authority at 1950 Sargent Avenue and is fully
leased to Federal Express on a triple net basis for a term maturing in 2014.
    The purchase price represents a 9.47% capitalization rate. The
acquisition will be initially funded entirely in cash, pending the advance of
a first mortgage loan in the amount of $2,150,000, for a five-year term and
bearing interest at 5.25%. The acquisition is scheduled to close on March 30,

    HREIT is a real estate investment trust, which is listed on the Toronto
Stock Exchange under the symbol HNT.UN. The objective of HREIT is to provide
Unitholders with stable and growing cash distributions from investments in a
geographically diversified Canadian portfolio of quality commercial and
industrial real estate properties. There are currently 71,888,568 trust units
outstanding. For further information on HREIT, please visit our website at

    This press release contains certain statements that could be considered
as forward-looking information. The forward-looking information is subject to
certain risks and uncertainties, which could result in actual results
differing materially from the forward-looking statements.

    The TSX has not reviewed or approved the contents of this press release
    and does not accept responsibility for the adequacy or accuracy of this
    press release.

For further information:

For further information: Arni Thorsteinson, President & Chief Executive
Officer, or Gino Romagnoli, Investor Relations, Tel: (204) 475-9090, Fax:
(204) 452-5505, Email:

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