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Press release from CNW Group

KEYreit Responds to Unsolicited Partial Offer

Tuesday, January 29, 2013

KEYreit Responds to Unsolicited Partial Offer10:30 EST Tuesday, January 29, 2013TORONTO, Jan. 29, 2013 /CNW/ - KEYreit (TSX: KRE.UN)- acknowledges the announcement made this morning by Huntingdon Capital Corp. ("Huntingdon") of its commencement of an unsolicited partial bid (the "Huntingdon Offer") for 6,628,940 units of KEYreit.KEYreit is in the process of reviewing and evaluating the Huntingdon Offer with its financial and legal advisors. KEYreit expects that a special committee of its board will be appointed to assist the board in fulfilling its legal and fiduciary duties in respect of the Huntingdon Offer and making every effort to maximize value for the benefit of KEYreit's unitholders and other stakeholders. KEYreit recommends that unitholders defer taking any action in respect of the Huntingdon Offer until the board makes a recommendation as to the merits of the Huntingdon Offer. Unitholders will be promptly notified of any recommendation by the board through a news release and circular in accordance with applicable securities laws.About KEYreit KEYreit (TSX: KRE.UN) is Canada's premier small-box retail property owner with 227 properties in nine provinces across Canada. KEYreit's properties are well located and geographically diverse across Canada with the majority of all properties containing long-term quadruple net leases. To find out more about KEYreit (TSX: KRE.UN), visit our website at www.keyreit.com.SOURCE: KEYreitFor further information: For investor information, please contact: Teresa Neto Chief Financial Officer 416-361-9953 teresa.neto@keyreit.com For media information, please contact: Trevor Boudreau 778-991-7412 trevor.boudreau@keyreit.com