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Press release from Marketwire

CAPREIT Announces May 2010 Distribution

Monday, May 17, 2010

CAPREIT Announces May 2010 Distribution17:27 EDT Monday, May 17, 2010TORONTO, ONTARIO--(Marketwire - May 17, 2010) - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAPREIT") announced today its May 2010 monthly distribution in the amount of $0.09 per Unit. The May distribution will be payable on June 15, 2010 to Unitholders of record on May 31, 2010. To encourage participation and reward our loyal Unitholders, investors registered in our Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of their distributions paid in the form of additional Units.As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 27,975 residential suites and two manufactured home communities comprising 1,316 land lease sites located in or near major urban centres from coast to coast. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 51%. For more information about CAPREIT, its business and its investment highlights, please refer to our web site at www.capreit.net and our public disclosure which can be found under our profile at www.sedar.com.FOR FURTHER INFORMATION PLEASE CONTACT: CAPREIT Mr. Michael Stein Chairman (416) 861-5788 or CAPREIT Mr. Thomas Schwartz President & CEO (416) 861-9404 or CAPREIT Mr. Richard Smith Chief Financial Officer (416) 861-5771 www.capreit.net