REIT INDEXPLUS Income Fund announces normal course issuer bid

TORONTO, May 16, 2012 /CNW/ - REIT INDEXPLUS Income Fund announced today its intention to make a normal course issuer bid for its units through the facilities of the Toronto Stock Exchange (the "TSX").  This normal course issuer bid will commence on May 18, 2012 and will terminate on May 17, 2013.  In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its normal course issuer bid may be effected by the Fund.

The Fund had 14,174,860 units issued and outstanding as at May 4, 2012.  The Fund may, during the 12 month period commencing May 18, 2012 purchase on the TSX up to 1,417,136 units, being 10% of the public float of 14,171,360 units and may not, in any 30 day period, purchase more than 283,497 units, being 2% of the units issued and outstanding.  The Fund will cancel all units purchased pursuant to the bid.  Subject to receiving all necessary regulatory approvals, the Fund may, in lieu of canceling units acquired, hold the units in treasury for resale.  As at May 4, 2012 the Fund had purchased 738,100 units at an average price of $11.10 per unit under its previously approved normal course issuer bid.  REIT INDEXPLUS Income Fund believes that its units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders.

REIT INDEXPLUS Income Fund trades on the Toronto Stock Exchange under the symbol "IDR.UN".

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Nancy Tham
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