DUNDEE REIT ACQUIRES TWO-THIRDS INTEREST IN SCOTIA PLAZA

On June 15, 2012, Dundee REIT acquired a majority interest in the iconic Scotia Plaza complex. With a total purchase price of $1.266 billion, this was the largest real estate transaction in Canadian history. Dundee REIT owns a two-thirds interest and manages this two million square foot, AAA class property jointly with its partner. Scotia Plaza is an exciting addition to our portfolio improving the quality of our assets and strengthening our business. Scotia Plaza is one of the most exceptional assets in Canada, by location, scale, physical condition and the strength of its tenants. That a REIT can successfully compete for the highest quality assets and enhance unitholder value is a watershed event in the history of Canadian REITs. From every perspective, we feel that this is a really great investment for Dundee, said Michael Cooper, Chief Executive Officer of Dundee REIT.

Dundee REIT is now the largest office REIT in Canada, the fourth largest owner/manager in Torontos downtown office market and the largest office manager in the Greater Toronto Area. We are excited to include Scotia Plazas world-class roster of tenants in our already impressive portfolio. As always, we are committed to delivering customer service excellence to all of our tenants and look forward to working with the brokerage community. Dundee REIT is focused on owning and managing welllocated, high-quality central business district and suburban office properties. Our portfolio currently comprises approximately 28.3 million square feet of gross leasable area in major urban centres across Canada. Our portfolio is well diversified by geographic location and tenant mix. For more information, please visit www.dundeereit.com.

Located in the heart of Torontos financial district, Scotia Plaza provides its tenants with an uncompromising and secure business environment. Its elegant exterior and interior common areas, featuring rich red granite, are visible indications of its superior quality. And, as the second tallest office building in Canada, it offers some of the most stunning views in Toronto.
For further information, please contact: Ana Radic Senior Vice President, Eastern Region 416-365-4136 aradic@dundeerealty.com For all leasing information, please contact: Kevin Hardy Vice President, Leasing 416-365-4183 khardy@dundeerealty.com

Dundee Real Estate Investment Trust 30 Adelaide Street East, Suite 1600, Toronto, Ontario Canada M5C 3H1

WWW.DUNDEEREIT.COM