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Press release from Marketwire

Retrocom Mid-Market REIT Announces New Anchor Tenant at Southland Mall Plus Multi-Million Dollar Revitalization

Friday, June 25, 2010

Retrocom Mid-Market REIT Announces New Anchor Tenant at Southland Mall Plus Multi-Million Dollar Revitalization15:00 EDT Friday, June 25, 2010TORONTO, ONTARIO--(Marketwire - June 25, 2010) - NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY NON-CANADIAN SOURCERetrocom Mid-Market Real Estate Investment Trust (the "REIT") (TSX:RMM.UN) announced today that Zellers, a leading mass merchandise retailer in Canada, will be backfilling the previous Walmart location and opening a 96,965 square foot store at Southland Mall. The anticipated opening is April 2011. Southland Mall is a 439,148 square foot enclosed regional mall located at 2965 Gordon Road in Regina, SK. The mall boasts an exciting retail and entertainment mix including Regina's only Chapters and Montana's Cookhouse as well as Saskatchewan's only Motherhood Maternity. This will be Zellers' third store in the market. "We are very excited to be a part of the revitalized Southland Mall," said Nick Padovano, Senior Vice President, Zellers Store Operations. "This investment will allow us to better serve the Regina market and provide our customers with our latest prototype store layout, as well as better brands in our key businesses like Fashion Apparel, Home, Kids & Toys and an updated and enlarged Neighborhood Market with fresh and frozen food offerings."In addition to the arrival of Zellers, Retrocom will be investing over $11 million in revitalizing the mall including extensive upgrades to the interior and exterior of the centre. The multi-year revitalization project includes a new contemporary food court, upgrades to the lighting, pillars, ceilings and floors, along with new signature entrances and facades. Safeway will also be converting its current store into a new "Lifestyle" format store, designed for busy customers who want to find everything in one place. The total investment by Retrocom and its tenants will be approximately $15 million."We are very pleased to welcome Zellers to Southland Mall. The decision by Zellers to locate at Southland demonstrates their confidence in the continued success of the mall in this market", said David Fiume, Chief Executive Officer of the REIT. "Along with our multi-million dollar investment in renovations, Safeway's new Lifestyle redevelopment, and our current and prospective tenants, we are very excited about the future of Southland Mall," added Fiume.Construction for the Zellers store will commence in the fall, with the multi-year revitalization project being phased in over the next few years.About Retrocom Mid-Market REITRetrocom Mid-Market REIT is an Ontario unincorporated open-end real estate investment trust which focuses on owning and acquiring mid-market commercial properties in primary and secondary cities across Canada with the objective of producing a geographically diversified portfolio of properties with stable and growing cash flows.This press release may contain forward-looking statements. These statements relate, but are not limited to, the REIT's expectations, intentions, plans and beliefs. In some cases, forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", and by discussions of strategies that involve risks and uncertainties. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Although management of the REIT believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that future results, levels of activity, performance or achievements will occur as anticipated. Neither the REIT nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements, and no one has any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or such other factors which affect this information, except as required by law.FOR FURTHER INFORMATION PLEASE CONTACT: Retrocom Mid-Market Real Estate Investment Trust David Fiume Chief Executive Officer (416) 741-7999 x227 (416) 741-7993 (FAX) dfiume@rmmreit.com