Normal course issuer bid by Scott's Real Estate Investment Trust

    TORONTO, Jan. 24 /CNW/ - Scott's Real Estate Investment Trust (TSX:
SRQ.UN) ("Scott's REIT") announced today that the Toronto Stock Exchange has
approved its notice of intention to make a normal course issuer bid for its
Units as appropriate opportunities arise from time to time. Scott's REIT's
normal course issuer bid will be made in accordance with the policies of the
Exchange. Scott's REIT may purchase its Units during the period from February
1, 2008 to January 31, 2009.
    Pursuant to the notice, Scott's REIT intends to acquire up to a maximum,
per trading day, of 2,310 Units, being approximately 25 per cent of the
average daily trading volume, and up to a maximum, in a 12-month period, of
493,930 Units, being approximately 10 per cent of the public float. There are
5,410,527 Units outstanding as of January 18, 2008. Purchases will be made at
market prices through the facilities of the TSX. Any tendered Units taken up
and paid for by Scott's REIT will be cancelled. Scott's REIT believes that the
ongoing purchase of its outstanding Units is an appropriate use of its
resources at this time and will afford liquidity to anyone who desires to sell
their Units.

    About Scott's Real Estate Investment Trust

    Scott's REIT is Canada's premier small-box retail property owner with 205
properties in seven provinces across Canada. Scott's REIT's properties are
well-located and geographically diverse. Nearly all properties are long-term
quadruple-net leases. The REIT has a 70.6 per cent interest in Scott's Real
Estate LP. To find out more about Scott's Real Estate Investment Trust, visit
our website at

    Forward-looking Statements

    This media release contains forward-looking statements. Such statements
are based on current expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might differ
materially from projections suggested in any forward-looking statements due to
factors such as the competitive nature of the quick service restaurant
industry, the ability of Scott's REIT and Scott's Real Estate LP to execute a
growth and development strategy, the reliance of Scott's REIT and Scott's Real
Estate LP on key personnel, on Priszm LP and risk associated with the
structure of income trusts. Scott's REIT and Scott's Real Estate LP assume no
obligation to update the forward-looking statements, or to update the reasons
why actual results could differ from those reflected in the forward-looking
    Additional information identifying risks and uncertainties is contained
in Scott's REIT filings with the Canadian securities regulators, available at

    %SEDAR: 00022537E

For further information:

For further information: For investor information, please contact: Trish
Moran, (416) 624-5133,; For media information,
please contact: Wilcox Group, (416) 203-6666,

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