Calloway REIT Declares November 2011 Distribution

TORONTO, ONTARIO--(Marketwire - Nov. 17, 2011) - Calloway Real Estate Investment Trust ("Calloway") (TSX: CWT.UN) announced that the trustees of the REIT have declared a distribution for the month of November 2011 of CDN$0.129 per trust unit, representing CDN$1.548 per unit on an annualized basis. Payment will be made on December 15, 2011 to unitholders of record on November 30, 2011.

About Calloway

Calloway is one of Canada's largest real estate investment trusts with an enterprise value of $5.7 billion. It owns and manages 25 million square feet in 118 value-oriented retail centres having the strongest national and regional retailers, as well as strong neighbourhood merchants. Walmart will continue to be the dominant anchor tenant in the portfolio, and we expect their presence will continue to attract other retailers and consumers. Calloway's vision is to provide a value-oriented shopping experience to Canadian consumers.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Calloway Real Estate Investment Trust
        Bart Munn
        Chief Financial Officer
        (905) 326-6400 ext. 7631

Source: Calloway Real Estate Investment Trust