Huntingdon REIT Announces Repayment of 8% Convertible Debentures

RICHMOND, BC, March 22 /CNW/ - Huntingdon Real Estate Investment Trust ("HREIT") (TSX: HNT.UN) today announced that it has repaid the outstanding balance of the 8% Series A convertible debentures in the amount of $5,250,000 from cash resources available. The Series A convertible debentures were issued in the amount of $6,000,000 on March 22, 2005 with interest at 8%, a March 22, 2010 maturity date, and were convertible into units at the request of the holder at any time after March 22, 2007 at a conversion price per unit of $22.95 (post unit consolidation). $750,000 of the debentures were converted on January 11, 2008.

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, directly or indirectly, 82 income producing office, industrial, retail and standalone parking lot properties, including the aviation-related facilities on ground leased land at five of Canada's leading international airports that have a total gross leaseable area of 5.5 million square feet; two land parcels held for development and one property held for sale, with other development and expansion opportunities within the portfolio.

    
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For further information: Zachary R. George, Trustee, President and Chief Executive Officer, Tel: [phone], Fax: [phone], Email: [email protected]