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Press release from Marketwire

CAPREIT Announces July 2012 Distribution

Monday, July 16, 2012

CAPREIT Announces July 2012 Distribution17:00 EDT Monday, July 16, 2012TORONTO, ONTARIO--(Marketwire - July 16, 2012) - Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today its July 2012 monthly distribution in the amount of $0.09 per Unit. The July distribution will be payable on August 15, 2012 to Unitholders of record on July 31, 2012.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 36,273 residential units, comprised of 32,908 residential suites and 14 manufactured home communities comprising 3,365 land lease sites located in and near major urban centres across Canada. 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 website at www.capreit.net and our public disclosure, which can be found under our profile at www.sedar.com.FOR FURTHER INFORMATION PLEASE CONTACT: Mr. Michael SteinCAPREITChairman(416) 861-5788ORMr. Thomas SchwartzCAPREITPresident & CEO(416) 861-9404ORMr. Scott CryerCAPREITChief Financial Officer(416) 861-5771