Partners Real Estate Investment Trust (TSX VENTURE: PAR.UN) Revises Payment Date of Previously Announced January Distribution of 0.01333 Per Unit

VICTORIA, BRITISH COLUMBIA -- (Marketwire) -- 02/09/12 -- Partners Real Estate Investment Trust ("Partners REIT") (TSX VENTURE: PAR.UN) is revising the payment date of previously announced January 2012 per unit distribution of 0.01333 to February 13, 2012 from February 15, 2012.

Distribution Reinvestment Plan: Partners REIT offers a distribution reinvestment plan whereby residents of Canada may elect to have their cash distributions reinvested in additional units of Partners REIT. Currently, approximately 5% of the total issued and outstanding units have enrolled in the plan.

Partners REIT: Partners REIT is a growth-oriented real estate investment trust, which currently owns (directly or indirectly) twenty-two retail properties, located in British Columbia, Alberta, Manitoba, Ontario and Quebec, aggregating approximately 1.7 million square feet of leasable space. Partners REIT focuses on expanding and managing a portfolio of retail and mixed-use community and neighbourhood shopping centres located in both primary and secondary markets across Canada.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.