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Press release from Marketwire

Calloway REIT Declares July 2012 Distribution

Wednesday, July 18, 2012

Calloway REIT Declares July 2012 Distribution11:31 EDT Wednesday, July 18, 2012TORONTO, ONTARIO--(Marketwire - July 18, 2012) - Calloway Real Estate Investment Trust ("Calloway") (TSX:CWT.UN) announced that the trustees of the REIT have declared a distribution for the month of July 2012 of CDN$0.129 per trust unit, representing CDN$1.548 per unit on an annualized basis. Payment will be made on August 15, 2012 to unitholders of record on July 31, 2012. About Calloway Calloway is one of Canada's largest real estate investment trusts with an enterprise value of approximately $6 billion. It owns and manages approximately 26 million square feet in 118 value-oriented retail centres having the strongest national and regional retailers, as well as strong neighbourhood merchants. Calloway's vision is to provide a value-oriented shopping experience to Canadian consumers. For more information on Calloway, visit www.callowayreit.com.FOR FURTHER INFORMATION PLEASE CONTACT: Bart MunnCalloway Real Estate Investment TrustChief Financial Officer(905) 326-6400 ext. 7631www.callowayreit.com