Whiterock REIT Declares September, October, November and December 2010
Distributions

TSX - WRK.UN

TORONTO, Sept. 21 /CNW/ - Whiterock Real Estate Investment Trust ("Whiterock"), a growth oriented REIT with a significant presence in major markets and a high quality long-term leased revenue stream, announced today it has declared its distributions for the months of September, October, November and December 2010 as per the following schedule:

    

    Month          Record Date         Distribution Date  Distribution Amount
    -----          -----------         -----------------  -------------------
    September 2010 September 30, 2010  October 15, 2010   $0.14025
    October 2010   October 31, 2010    November 15, 2010  $0.14025
    November 2010  November 30, 2010   December 15, 2010  $0.14025
    December 2010  December 29, 2010   December 31, 2010  $0.14025
    

These distributions represent an annualized yield of approximately 9.8% based on the September 20, 2010 Unit closing price of $17.20.

At the close of business on September 20, 2010, Whiterock had 16,771,395 Units issued and outstanding.

100% of Whiterock's distributions from 2005 to 2009 were classed as a return of capital for Canadian investors and while the tax status of Whiterock's distributions cannot be determined until the end of the taxation year, management believes that in 2010, substantially all, if not all, of its distributions could again be classified as a return of capital.

Reinvestment Program

Whiterock's Distribution Reinvestment Plan allows Unitholders to purchase additional Units using their distributions, without brokerage fees, at 96% of the volume weighted average trading price for the ten days immediately preceding a distribution payment date. The enrolment form and further details are available at www.whiterockreit.ca/drip.html.

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities legislation. These forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" or "continue", the negative forms thereof and similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. These statements are not guarantees of future events or performance and, by their nature, are based on Whiterock's estimates and assumptions, which are subject to known and unknown risks, uncertainties and other factors that may cause the actual events, results or prospects to be materially different from those expressed or implied herein. Readers are cautioned that a number of risks, uncertainties and other factors, including but not limited to the risk that Whiterock's distributions may not be substantially classified as a return of capital, and the risks discussed in Whiterock's various securities filings, including the section entitled "Risk Factors" in Whiterock's Annual Information Form, which can be obtained at www.sedar.com, could cause actual events, results or prospects to differ materially from those stated or implied. These risks, uncertainties and other factors should be considered carefully, and a reader should not place undue reliance on forward-looking statements, as there can be no assurance that actual events, results or prospects will be consistent with such statements. Except as required by law, Whiterock does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

%SEDAR: 00022234E

For further information: www.whiterockreit.ca, Frank Bucys, CFO, 416-907-4864; Jennifer Kosloski, Controller, 416-979-3026