Lanesborough REIT announces resignation of Executive Vice President

WINNIPEG, July 16, 2013 /CNW/ - Lanesborough Real Estate Investment Trust ("LREIT") (TSX: LRT.UN) today announced that, following his resignation as Chief Investment Officer of Shelter Canadian Properties Limited ("Shelter"), Mr. Douglas Wells has resigned from his positions as Executive Vice President and Trustee of LREIT. The services of Mr. Wells as Executive Vice President were provided pursuant to the asset management services agreement entered into between LREIT and Shelter.

LREIT thanks Mr. Wells for his contributions to LREIT over the past nine months.

LREIT is a real estate investment trust, which is listed on the Toronto Stock Exchange under the symbols LRT.UN (Trust Units), LRT.DB.G (Series G Debentures), LRT.NT.A (Second Mortgage Bonds due December 24, 2015), LRT.WT (Warrants expiring March 9, 2015) and LRT.WT.A (Warrants expiring December 23, 2015).  The objective of LREIT is to provide Unitholders with stable cash distributions from investment in a diversified portfolio of quality real estate properties.  For further information on LREIT, please visit our website at www.lreit.com.

The Toronto Stock Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

SOURCE: Lanesborough Real Estate Investment Trust

Arni Thorsteinson, Chief Executive Officer, or Gino Romagnoli, Investor Relations
Tel: [phone], Fax: [phone], Email: [email protected]