Boardwalk REIT announces July monthly distribution

    CALGARY, July 15 /EMWNews-FirstCall/ - Boardwalk Real Estate

Investment Trust ("BEI.UN" - TSX) has declared its July 2008 distribution

in the amount of 15.00 cents per Trust unit. The distribution will be

payable on August 15, 2008 to Unitholders of Record on July 31, 2008.



    Corporate Profile



    Boardwalk REIT is Canada's largest owner/operator of multi-family

rental communities. Boardwalk REIT currently owns and operates in excess of

260 properties with 36,784 rental units totaling approximately 31 million

net rentable square feet. The Trust's portfolio is concentrated in the

provinces of Alberta, British Columbia, Saskatchewan, Ontario and Quebec.

Boardwalk REIT's Trust units are listed on the Toronto Stock Exchange,

trading under the symbol BEI.UN. The Trust's total Enterprise Value is

approximately $4.1 billion.



    Forward Looking Information



    This press release may contain forward looking statements. These

statements relate, but are not limited to, Boardwalk REIT's expectations,

intentions, plans and beliefs. These forward looking statements can

generally be identified by the use of words "anticipated", "expected" or

the negative thereof or other comparable terminology. You should be aware

that these statements are subject to known and unknown risks, uncertainties

and other factors, including the risks discussed under the heading "Risk

Factors" in the Annual Information Form of Boardwalk REIT available on

http://www.sedar.com. Actual events or results may differ materially from those

suggested by any forward-looking statements. You should not place undue

reliance on any forward-looking statements contained in this press release

and should not rely on such statements on any date other than the date of

this press release. By their nature, forward-looking statements involve

numerous assumptions, inherent risks and uncertainties, both general and

specific, that contribute to the possibility that the predictions,

forecasts, projections and various future events will not occur. Although

management of Boardwalk REIT believes that the expectations reflected in

the forward-looking statements are reasonable, there can be no assurances

that future results, levels of activity, performance or achievements will

occur as anticipated. None of Boardwalk REIT nor any other person assumes

responsibility for the accuracy and completeness of any forward-looking

statements, and no one has any obligations to update or revise any

forward-looking statement, whether as a result of new information, future

events or such other factors which affect this information, except as

required by law.