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Press release from CNW Group

Temple REIT announces early redemtion of Debentures

Monday, October 22, 2012

Temple REIT announces early redemtion of Debentures17:00 EDT Monday, October 22, 2012WINNIPEG, Oct. 22, 2012 /CNW/ - Temple Real Estate Investment Trust ("Temple REIT") (TSX: TR.UN) announced today that on November 30, 2012 ("Redemption Date"), Temple REIT will redeem all of its outstanding 8.75% Senior Secured Convertible Redeemable Debentures due November 30, 2014 (CUSIP 880018AC0 and ISIN 880018AC03) ("Debentures"). The aggregate principal amount of the Debentures currently outstanding is C$1,335,000. Temple REIT is able to redeem the Debentures early as its trust unit price has traded at a 25% premium to the C$3.65 per trust unit conversion price for a period of 20 days.On redemption, Temple REIT will pay a redemption amount of $10.4375 for each $10.00 principal amount of Debentures, being equal to the aggregate of $10.00 principal amount and all accrued and unpaid interest thereon to, but excluding, the Redemption Date.Each Debenture will remain convertible into trust units at the option of the holder of the Debenture at a price of $3.65 per trust unit at anytime prior to 4:30 p.m. Eastern Time on November 22, 2012.Temple REIT is a real estate investment trust, which is listed on the Toronto Stock Exchange under the symbols TR.UN (trust units), TR.DB.B, TR.DB.C, TR.DB.D, TR.DB.E and TR.DB.S (convertible debentures).  The objective of Temple REIT is to provide Unitholders with stable cash distributions from investment in a diversified portfolio of hotel properties and related assets.  For further information on Temple REIT, please visit our website at Toronto Stock Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.SOURCE: Temple REITFor further information: Arni Thorsteinson, Chief Executive Officer, or Gino Romagnoli, Investor Relations Tel: (204) 475-9090, Fax: (204) 452-5505, Email: