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Press release from Marketwire

Calloway REIT Announces Sale of Three Shopping Centres for $59.8 Million

Thursday, October 18, 2012

Calloway REIT Announces Sale of Three Shopping Centres for $59.8 Million18:44 EDT Thursday, October 18, 2012TORONTO, ONTARIO--(Marketwire - Oct. 18, 2012) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICESCalloway Real Estate Investment Trust ("Calloway") (TSX:CWT.UN) announced today it has entered into a binding purchase agreement with Retrocom REIT to sell three Ontario properties located in Scarborough, Burlington and Renfrew for a total purchase price of approximately $59.8 million.Property LocationRentable Area Square FeetMajor TenantsScarborough, ON95,297Staples, Royal BankBurlington, ON134,225Future Shop, StaplesRenfrew, ON17,471LCBO, Marks WarehouseTotal Portfolio246,993"Calloway has a program of recycling equity from non-core properties to invest in more strategic acquisitions. Following a competitive bid process conducted by a national broker, Retrocom REIT was successful in acquiring these well located and leased centres," said Al Mawani, Calloway's President and CEO.Proceeds from the sale will be used to repay outstanding operating lines. The acquisition is expected to close in November 2012. About Calloway Calloway is one of Canada's largest real estate investment trusts with an enterprise value of approximately $6.2 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: Al MawaniCalloway Real Estate Investment TrustPresident and Chief Executive Officer(905) 326-6400 ext. 7649ORBart MunnCalloway Real Estate Investment TrustChief Financial Officer(905) 326-6400 ext. 7631www.callowayreit.com