Gazit America announces the appointment of CFO

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO, June 15 /CNW/ - Gazit America Inc. ("Gazit America") (TSX: GAA) is pleased to announce the appointment of Ms. Lenis W. Quan as Chief Financial Officer of the corporation effective July 5, 2010. Ms. Quan is an accomplished executive and brings more than 15 years of real estate, management, finance and accounting experience to Gazit America.

Most recently, Ms. Quan worked as a consultant providing financial, business advisory, and project management services to various companies. Prior to this she worked at Brookfield Asset Management Inc. (NYSE: BAM, TSX: BAM.A) for 10 years in a number of progressive positions, most recently as Vice-President, Corporate Development and Treasury with Brookfield Homes Corporation (NYSE: BHS). Ms. Quan is a Chartered Accountant and received her initial training at Deloitte & Touche LLP, where she spent 6 years in accounting, audit and assurance roles.

"We are delighted to have Lenis join our growing organization. Her experience and knowledge will be a valued addition to our senior management team," said Gail Mifsud, CEO of Gazit America. "We would also like to thank John Todd, our Interim CFO, for his contribution during this transition period."

ABOUT GAZIT AMERICA (TSX: GAA)

Gazit America is focused on entrepreneurial real estate opportunities including the acquisition and development of income-producing properties, investments in public and private real estate entities, investments in joint ventures and other structured acquisitions and investments in commercial and residential mortgage-backed securities. Gazit America currently owns approximately 15.4% of Equity One, Inc. (approximately 13.2% if the transaction recently announced by Equity One closes and the joint venture units are fully converted), a company that trades on the New York Stock Exchange under the ticker EQY, and three properties comprised of six medical office buildings totalling approximately 164,000 square feet of rentable space located in Cambridge, London and Ottawa, Ontario.

For further information: regarding Gazit America: Gail Mifsud, C.E.O., Gazit America Inc., 109 Atlantic Avenue, Suite 303, Toronto, Ontario, Canada, M6K 1X4, Tel: [phone], Fax: [phone], [email protected], www.gazitamerica.com