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Press release from Marketwire

Dundee REIT Completes $155 Million Equity Offering

Tuesday, June 14, 2011

Dundee REIT Completes $155 Million Equity Offering08:59 EDT Tuesday, June 14, 2011TORONTO, ONTARIO--(Marketwire - June 14, 2011) -NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATESDUNDEE REIT (TSX:D.UN) announced today the closing of its previously announced public offering of REIT Units, Series A ("Units") at a price of $33.30 per Unit for gross proceeds of $155,178,000. The offering was completed through a syndicate of underwriters, led by TD Securities Inc. Dundee REIT granted the syndicate an over-allotment option, exercisable for a period of 30 days following closing, to purchase an additional 699,000 Units which, if exercised, would increase the gross proceeds to $178,454,700. The offering includes 356,000 Units purchased by Dundee Corporation at the offering price pursuant to the exercise of its pre-emptive right under Dundee REIT's declaration of trust. The net proceeds from the offering will be used to fund potential future acquisitions and for general trust purposes.This press release is not an offer of securities for sale in the United States. The Units being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.Dundee REIT is an unincorporated, open-ended real estate investment trust and provides high quality, affordable business premises. It is focused on owning, acquiring, leasing and managing mid-sized urban and suburban office and industrial properties in Canada. Dundee REIT's portfolio currently consists of approximately 14.8 million square feet of gross leasable area across Canada. Dundee REIT's portfolio is well diversified by geographic location and tenant mix. For more information, please visit www.dundeereit.com.FOR FURTHER INFORMATION PLEASE CONTACT: Michael J. CooperDUNDEE REAL ESTATE INVESTMENT TRUSTVice Chairman and Chief Executive Officer(416) 365-5145mcooper@dundeereit.comORMario BarrafatoDUNDEE REAL ESTATE INVESTMENT TRUSTSenior Vice-President and Chief Financial Officer(416) 365-4132mbarrafato@dundeereit.comwww.dundeereit.com