Cominar prices offering of $125 million of 4.274% Series 1 senior unsecured debentures due June 15, 2017

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

QUÉBEC CITY, June 12, 2012 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announced today that it has priced an offering of $125 million principal amount of 4.274% Series 1 senior unsecured debentures due June 15, 2017 (the "Debentures"). The offering of the Debentures is expected to close on or about June 15, 2012.

Cominar intends to use the net proceeds of the offering of approximately $124.1 million to repay indebtedness outstanding under its credit facilities and for general trust purposes.

The Debentures will be publicly offered in Canada, under Cominar's previously filed base shelf prospectus (the "Prospectus"), pursuant to an Agency Agreement with National Bank Financial Inc. and BMO Capital Markets, as co-lead agents, along with a syndicate that also includes Desjardins Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., RBC Dominion Securities Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Genuity Corp., Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. Cominar will also file with applicable securities regulators in each of the provinces and territories of Canada a prospectus supplement to the Prospectus (the "Prospectus Supplement") relating to the offering of the Debentures. Copies of the Prospectus and the Prospectus Supplement will be available on the Internet at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures in any jurisdiction.  The Debentures being offered have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the Prospectus or the Prospectus Supplement.

The Debentures have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to applicable exemptions from the registration requirements.

PROFILE as at June 12, 2012

Cominar Real Estate Investment Trust is the third largest diversified real estate investment trust in Canada and currently remains the largest commercial property owner in the Province of Québec. The REIT owns a real estate portfolio of 412 high-quality properties, consisting of 82 office, 158 retail and 172 industrial and mixed-use buildings that cover a total area of 30.6 million square feet in Québec, Ontario, the Atlantic Provinces and Western Canada. Cominar's objectives are to pay growing cash distributions to unitholders and to maximize unitholder value by way of proactive management and the expansion of its portfolio.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to Cominar and  its operations, strategy, financial performance and financial condition. These statements generally can be identified by the use of forward-looking words such as "may", "will",  "expect", "estimate", "anticipate", "intend", "believe" or "continue" or the negative  thereof or similar variations. The actual results and performance of Cominar discussed  herein could differ materially from those expressed or implied by such statements. Such  statements are qualified in their entirety by the inherent risks and uncertainties  surrounding future expectations. Some important factors that could cause actual results  to differ materially from expectations include, among other things, general economic and  market factors, competition, changes in  government regulation and the factors described under "Risk Factors" in the Annual  Information Form of Cominar. The cautionary statements qualify all forward-looking statements attributable to Cominar and persons acting on its behalf. Unless otherwise  stated, all forward-looking statements speak only as of the date of this press release.

Mr. Michel Dallaire, P.Eng.
President and Chief Executive Officer, Cominar Real Estate Investment Trust
[phone]

Mr. Michel Berthelot
Executive Vice President and Chief Financial Officer, Cominar Real Estate Investment Trust
[phone] ext. 2266