Press Releases

Canadian REIT Income Fund Announces Exchange Ratios

TORONTO, September 9, 2011 - First Asset Investment Management Inc. is pleased to announce the exchange ratios for the exchange option provided by Canadian REIT Income Fund (the "Fund") under the final prospectus of the Fund dated August 29, 2011. The closing of the initial public offering of the units of the Fund (the "Units") is expected to occur on September 16, 2011. The Units will trade on the Toronto Stock Exchange ("TSX") under the symbol RIU.UN.

The number of Units issuable for the Exchange Eligible Securities (the "Exchange Ratio") was determined in respect of each of the Exchange Eligible Securities, other than Convertible Debentures, by dividing the volume weighted average trading price for such securities on the TSX during the period of five consecutive trading days ending on September 8, 2011 (the "Pricing Period"), as adjusted to reflect distributions declared in respect of the Exchange Eligible Securities that will not be received by the Fund, by $10.00.

For Exchange Eligible Securities that are Convertible Debentures, the Exchange Ratio was determined, for each $1,000 principal amount of Convertible Debentures, by dividing the volume weighted average trading price for such principal amount of Convertible Debentures on the TSX during the Pricing Period, plus accrued interest as calculated in accordance with market practice, to, but not including, the Closing Date, by $10.00.

The Exchange Ratios were rounded down to four decimal places. Fractional Units will not be issued by the Fund.

The following table specifies for the Exchange Eligible Securities (other than Convertible Debentures): (i) the name of issuer; (ii) the TSX symbol; (iii) the volume weighted average trading price during the Pricing Period; and (iv) the Exchange Ratio.


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                                                   Volume Weighted          
                                                   Average Trading  Exchange
Issuer                                  TSX Symbol       Price ($)     Ratio
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Allied Properties Real Estate                                               
 Investment Trust                       AP.UN              23.3996    2.3399
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Amica Mature Lifestyles Inc.            ACC                 7.4354    0.7435
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Artis Real Estate Investment Trust      AX.UN              13.3143    1.3314
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Boardwalk Real Estate Investment Trust  BEI.UN             50.2020    5.0202
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Brookfield Office Properties Canada     BOX.UN             21.5705    2.1570
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Brookfield Office Properties Inc.       BPO                16.2925    1.6292
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BTB Real Estate Investment Trust        BTB.UN              0.8488    0.0848
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Calloway Real Estate Investment Trust   CWT.UN             25.1464    2.5146
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Canadian Apartment Properties Real                                          
 Estate Investment Trust                CAR.UN             20.5544    2.0554
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Canadian Real Estate Investment Trust   REF.UN             34.5476    3.4547
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Chartwell Seniors Housing Real Estate                                       
 Investment Trust                       CSH.UN              7.0120    0.7012
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Cominar Real Estate Investment Trust    CUF.UN             21.7193    2.1719
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Crombie Real Estate Investment Trust    CRR.UN             12.9440    1.2944
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Dundee Real Estate Investment Trust     D.UN               31.9049    3.1904
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Extendicare Real Estate Investment                                          
 Trust                                  EXE.UN              7.6152    0.7615
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First Capital Realty Inc.               FCR                16.7919    1.6791
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H&R Real Estate Investment Trust        HR.UN              21.0332    2.0949
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Homburg Canada Real Estate Investment                                       
 Trust                                  HCR.UN             11.4428    1.1442
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Huntingdon Real Estate Investment Trust HNT.UN              6.9116    0.6911
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InnVest Real Estate Investment Trust    INN.UN              4.5836    0.4583
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InterRent Real Estate Investment Trust  IIP.UN              2.4944    0.2494
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Killam Properties Inc.                  KMP                10.5260    1.0526
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Leisureworld Senior Care Corporation    LW                 10.2583    1.0258
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Mainstreet Equity Corp.                 MEQ                17.3323    1.7332
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Morguard Real Estate Investment Trust   MRT.UN             14.9182    1.4918
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Northern Property Real Estate                                               
 Investment Trust                       NPR.UN             29.8419    2.9841
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NorthWest Healthcare Properties Real                                        
 Estate Investment Trust                NWH.UN             11.6210    1.1621
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Partners Real Estate Investment Trust   PAR.UN              1.6560    0.1656
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Primaris Retail Real Estate Investment                                      
 Trust                                  PMZ.UN             20.6618    2.0661
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Retrocom Mid-Market Real Estate                                             
 Investment Trust                       RMM.UN              4.9695    0.4969
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RioCan Real Estate Investment Trust     REI.UN             25.1875    2.5187
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Scott's Real Estate Investment Trust    SRQ.UN              6.9659    0.6965
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Temple Real Estate Investment Trust     TR.UN               4.6769    0.4676
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Transglobe Apartment Real Estate                                            
 Investment Trust                       TGA.UN             10.6992    1.0699
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Whiterock Real Estate Investment Trust  WRK.UN             12.5307    1.2530
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The following table specifies for the Convertible Debentures: (i) the name of issuer and the Convertible Debenture; (ii) the symbol; (iii) the volume weighted average trading price during the Pricing Period; (iv) the accrued interest payable to the Closing Date; and (v) the Exchange Ratio.


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                                        Volume Weighted    Accrued          
Issuer - Convertible                    Average Trading   Interest  Exchange
 Debenture                   TSX Symbol       Price ($)  Per $1000     Ratio
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Artis Real Estate Investment                                                
 Trust - 7.5% due June 30,                                                  
 2014                        AX.DB.E         1,439.4706    16.0274  145.5497
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Artis Real Estate Investment                                                
 Trust - 5.75% due June 30,                                                 
 2018                        AX.DB.U           985.5022    12.2877   99.7789
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Artis Real Estate Investment                                                
 Trust - 6% due June 30,                                                    
 2020                        AX.DB.F         1,023.4614    12.8219  103.6283
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BTB Real Estate Investment                                                  
 Trust - 8% due October 3,                                                  
 2011                        BTB.DB          1,000.2000    36.2222  103.6422
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BTB Real Estate Investment                                                  
 Trust - 8% due January 31,                                                 
 2016                        BTB.DB.C        1,000.0000    10.3014  101.0301
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Calloway Real Estate                                                        
 Investment Trust - 6.65%                                                   
 due June 30, 2013           CWT.DB.A        1,051.5184    14.2110  106.5729
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Calloway Real Estate                                                        
 Investment Trust - 5.75%                                                   
 due June 30, 2017           CWT.DB.B        1,049.8345    12.2877  106.2122
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Chartwell Seniors Housing                                                   
 Real Estate Investment                                                     
 Trust - 5.9% due May 1,                                                    
 2012                        CSH.DB.A        1,009.5373    22.3068  103.1844
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Cominar Real Estate                                                         
 Investment Trust - 5.8% due                                                
 September 30, 2014          CUF.DB.C        1,025.2182    26.8548  105.2073
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Cominar Real Estate                                                         
 Investment Trust - 6.5% due                                                
 September 30, 2016          CUF.DB.D        1,093.5275    30.0959  112.3623
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Cominar Real Estate                                                         
 Investment Trust - 5.75%                                                   
 due June 30, 2017           CUF.DB.E        1,026.4925    12.2877  103.8780
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Crombie Real Estate                                                         
 Investment Trust - 7% due                                                  
 March 20, 2013              CRR.DB          1,045.7882    14.9589  106.0747
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Crombie Real Estate                                                         
 Investment Trust - 6.25%                                                   
 due June 30, 2015           CRR.DB.B        1,176.9947    13.3562  119.0350
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Crombie Real Estate                                                         
 Investment Trust - 5.75%                                                   
 due June 30, 2017           CRR.DB.C        1,018.5119    12.2877  103.0799
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Dundee Real Estate                                                          
 Investment Trust - 6% due                                                  
 December 31, 2014           D.DB.B          1,035.1165    12.8219  104.7938
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Extendicare Real Estate                                                     
 Investment Trust - 7.25%                                                   
 due June 30, 2013           EXE.DB.A        1,007.6626    15.4932  102.3155
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Extendicare Real Estate                                                     
 Investment Trust - 5.7% due                                                
 June 30, 2014               EXE.DB            992.0472    12.1808  100.4227
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First Capital Realty Inc. -                                                 
 6.25% due December 31, 2016 FCR.DB.C        1,182.9825    28.9384  121.1920
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First Capital Realty Inc. -                                                 
 5.7% due June 30, 2017      FCR.DB.D        1,020.5000    26.3918  104.6891
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First Capital Realty Inc. -                                                 
 5.4% due January 31, 2019   FCR.DB.E          989.5721    20.8603  101.0432
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H&R Real Estate Investment                                                  
 Trust - 6.65% due June 30,                                                 
 2013                        HR.DB           1,041.7492    14.2110  105.5960
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H&R Real Estate Investment                                                  
 Trust - 6.75% due December                                                 
 31, 2014                    HR.DB.B         1,508.8392    14.4247  152.3263
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H&R Real Estate Investment                                                  
 Trust - 6% due June 30,                                                    
 2017                        HR.DB.C         1,150.4126    12.8219  116.3234
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H&R Real Estate Investment                                                  
 Trust - 5.9% due June 30,                                                  
 2020                        HR.DB.D         1,039.8393    12.6082  105.2447
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Huntingdon Real Estate                                                      
 Investment Trust - 7.5% due                                                
 March 31, 2012              HNT.DB.C        1,001.4100    34.7260  103.6136
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InnVest Real Estate                                                         
 Investment Trust - 6% due                                                  
 May 31, 2013                INN.DB.B          994.5694    17.7534  101.2322
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InnVest Real Estate                                                         
 Investment Trust - 5.85%                                                   
 due August 1, 2014          INN.DB.C          995.0944     7.3726  100.2466
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InnVest Real Estate                                                         
 Investment Trust - 6.75%                                                   
 due March 31, 2016          INN.DB.D          997.8597    31.2534  102.9113
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InnVest Real Estate                                                         
 Investment Trust - 6% due                                                  
 September 30, 2017          INN.DB.E          905.4643    27.7808   93.3245
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InnVest Real Estate                                                         
 Investment Trust - 5.75%                                                   
 due March 30, 2018          INN.DB.F          878.6830    29.1438   90.7826
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InterRent Real Estate                                                       
 Investment Trust - 7% due                                                  
 January 31, 2013            IIP.DB          1,000.0000     9.0137  100.9013
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Killam Properties Inc. -                                                    
 5.65% due November 30, 2017 KMP.DB.A        1,007.2181    16.7178  102.3935
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Killam Properties Inc. -                                                    
 5.45% due June 30, 2018     KMP.DB.B          998.3755    15.8274  101.4202
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Morguard Real Estate                                                        
 Investment Trust - 6.5% due                                                
 September 30, 2014          MRT.DB          1,081.8118    30.0137  111.1825
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Partners Real Estate                                                        
 Investment Trust - 8% due                                                  
 March 31, 2016              PAR.DB            999.1719    42.0822  104.1254
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Primaris Retail Real Estate                                                 
 Investment Trust - 5.85%                                                   
 due August 1, 2014          PMZ.DB.A        1,025.5961     7.3726  103.2968
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Primaris Retail Real Estate                                                 
 Investment Trust - 6.75%                                                   
 due June 30, 2014           PMZ.DB          1,696.1905    14.4247  171.0615
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Primaris Retail Real Estate                                                 
 Investment Trust - 6.3% due                                                
 September 30, 2015          PMZ.DB.B        1,244.5538    29.0902  127.3643
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Primaris Retail Real Estate                                                 
 Investment Trust - 5.4% due                                                
 November 30, 2018           PMZ.DB.C          994.0414    14.0548  100.8096
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Retrocom Mid-Market Real                                                    
 Estate Investment Trust -                                                  
 6.75% due July 31, 2015     RMM.DB.A        1,032.4934     8.6918  104.1185
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Retrocom Mid-Market Real                                                    
 Estate Investment Trust -                                                  
 5.45% due June 30, 2018     RMM.DB.B          919.8333    11.9452   93.1778
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Scott's Real Estate                                                         
 Investment Trust - 7.15%                                                   
 due December 31, 2012       SRQ.DB            968.0792    15.2795   98.3358
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Scott's Real Estate                                                         
 Investment Trust - 7.75%                                                   
 due December 31, 2014       SRQ.DB.A        1,004.3605    16.4266  102.0787
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Temple Real Estate                                                          
 Investment Trust - 7.5% due                                                
 March 31, 2012              TR.DB.A         1,000.0000    34.7260  103.4726
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Temple Real Estate                                                          
 Investment Trust - 8.5% due                                                
 April 30, 2013              TR.DB.B           985.0250    32.1111  101.7136
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Temple Real Estate                                                          
 Investment Trust - 8.75%                                                   
 due November 30, 2014       TR.DB.S         1,293.9754    25.7639  131.9739
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Transglobe Apartment Real                                                   
 Estate Investment Trust -                                                  
 5.4% due September 30, 2018 TGA.DB            964.0203     7.2493   97.1269
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Whiterock Real Estate                                                       
 Investment Trust - 6.3% due                                                
 December 31, 2011           WRK.DB.E          999.6790    13.4630  101.3142
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Whiterock Real Estate                                                       
 Investment Trust - 6% due                                                  
 July 15, 2012               WRK.DB.F        1,000.0000    10.3562  101.0356
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Whiterock Real Estate                                                       
 Investment Trust - 7% due                                                  
 December 31, 2014           WRK.DB.G        1,436.1424    14.7778  145.0920
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All capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the final prospectus of the Fund dated August 29, 2011.

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