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Split REIT Opportunity Trust Announces Preferred Security Downgrade

TORONTO, February 13, 2009 - Split REIT Opportunity Trust (TSX: SOT.PR.A, SOT.UN) (the "Trust") announces that DBRS Limited has lowered the rating on the Trust's Preferred Securities from Pfd-2 (low) to Pfd-3 (high), with a Stable trend, effective today.

For further information, please contact Rob MacNiven, Investor Relations at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.