CUF.UN Cominar Real Estate Investment Trust

The Dallaire family and Cominar Real Estate Investment Trust ("Cominar")
(TSX:CUF.UN) announced today that AM Total Investissements (GP) ("AM Total"),
which is a general partnership wholly-owned by the Dallaire family, has
concluded a temporary financing by way of a monetization transaction on three
million units of Cominar for proceeds of approximately $74.0 million.


The monetization transaction involves a forward contract concluded by AM Total
with a Canadian chartered bank referencing the closing price of Cominar units on
September 20, 2012. Pursuant to this financial instrument, AM Total, which holds
8,277,175 units of Cominar, maintains the beneficial ownership and voting rights
attached to the monetized units.


The Dallaire family owns directly and indirectly a total of 9,010,078 units of
Cominar or approximately 7.3% of the issued and outstanding units, including the
three million units being monetized.


The Dallaire family will use the proceeds of the financing to fund the
development of Phase 2 of the Complexe Jules-Dallaire, a project co-owned by
Cominar and the Dallaire family. The Dallaire family is building Phase 2 at its
own risk, including ten storeys of office space plus some 200 condominium units
on fifteen floors to be sold to individuals. Once the development of the ten
storeys of office space is complete, the Dallaire family may increase its
interest by up to 50% of the fair market value of the entire Complexe by way of
a cash consideration. Subsequently, the entire property will be managed by
Cominar.


"It continues to be important for me to seek to align the interests of our
family with those of our unitholders," said Mr. Michel Dallaire of the Dallaire
family and the President and Chief Executive Officer of Cominar. "The
transaction announced today was designed to preserve this objective and further
Cominar's objectives," added Mr. Dallaire.


The Dallaire family has assumed all costs related to the financing.

Dallaire family

The Dallaire family is comprised of the spouse, estate and children of the late
Jules Dallaire, the founder of Cominar, and related entities, including related
family trusts and AM Total Investments (GP).


Cominar Portfolio as at September 20, 2012

Cominar is the third largest diversified real estate investment trust in Canada
and currently remains the largest commercial property owner in the Province of
Quebec. Cominar owns a real estate portfolio of 482 high-quality properties,
consisting of 123 office, 158 retail and 201 industrial and mixed-use buildings
that cover a total area of 35.0 million square feet in Quebec, Ontario, the
Atlantic Provinces and Western Canada. Cominar's objectives are to pay growing
cash distributions to unitholders and to maximize unitholder value by way of
proactive management and the expansion of its portfolio.


Forward-Looking Statements 

This press release may contain forward-looking statements with respect to
Cominar Real Estate Investment Trust and its operations, strategy, financial
performance and condition. These statements generally can be identified by use
of forward looking words such as "may", "will", "expect", "estimate",
"anticipate", "intends", "believe" or "continue" or the negative thereof or
similar variations. The actual results and performance of Cominar Real Estate
Investment Trust could differ materially from those expressed or implied by such
statements. Such statements are qualified in their entirety by the inherent
risks and uncertainties surrounding future expectations. Some important factors
that could cause actual results to differ materially from expectations include,
among other things, general economic and market factors, competition, changes in
government regulation and the factors described under "Risk Factors" in the
annual information form of Cominar Real Estate Investment Trust. The cautionary
statements qualify all forward-looking statements attributable to Cominar Real
Estate Investment Trust and persons acting on its behalf. Unless otherwise
stated, all forward-looking statements speak only as of the date of this press
release and Cominar Real Estate Investment Trust has no obligation to update
such statements.

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