Huntingdon REIT renews normal course issuer bid for trust units

    WINNIPEG, Jan. 21 /CNW/ - Huntingdon Real Estate Investment Trust
("HREIT") (TSX: HNT.UN) today announced that is has received approval from the
Toronto Stock Exchange ("TSX") for the renewal of its normal course issuer bid
to purchase up to an aggregate of 3,629,460 trust units ("Units"),
representing 5% of the number of issued and outstanding Units on the date
hereof. Purchases pursuant to the bid will be made through the facilities of
the Toronto Stock Exchange. The period of the normal course issuer bid will
extend from January 23, 2009, to January 22, 2010 or an earlier date, should
HREIT purchase the maximum number of Units. HREIT will pay the market price at
the time of acquisition for any Units purchased through the facilities of the
Toronto Stock Exchange. All Units acquired by HREIT under this bid will be
cancelled. As at January 19, 2009, there were 72,589,214 Units issued and
outstanding. The average daily trading volume of the Units for the six month
period ended December 31, 2008 was 150,280 Units. 25% of the average daily
trading volume of the Units for the six month period ended December 31, 2008
is 37,570 Units.
    HREIT is pursuing the normal course issuer bid of Units because it
believes that, from time to time, the market price of the Units may not fully
reflect the underlying value of the Units. HREIT believes that, in such
circumstances, the outstanding Units represent an attractive investment for
    Under its previous normal course issuer bid for Units which expired on
January 20, 2009, HREIT acquired 37,407 Units at a weighted average price of
$2.062 per Unit.

    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 77 income producing office, industrial,
retail and standalone parking lot properties that have a total gross leaseable
owned area of 5.4 million square feet; two land parcels held for development
and other development and expansion opportunities within the existing
portfolio. The properties are located in Manitoba, Ontario, Saskatchewan,
Alberta, British Columbia and Northwest Territories. HREIT also owns a third
party property management business. For further information on HREIT, please
visit our website at

    The Toronto Stock Exchange 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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