Primaris Retail REIT Announces August Distribution

TORONTO, ONTARIO–(EMWNews – Aug. 22, 2008) – Primaris Retail REIT (TSX:PMZ.UN) announces today its August 2008 monthly distribution in the amount of $0.1016. Payment will be made on September 15th, 2008 to holders of record as of August 29th, 2008.

In addition, unitholders who elect to participate in the DRIP will receive a further distribution, payable in units, equal in value to 3% of each cash distribution reinvested by them. The price at which units will be purchased with such cash distributions is based on a weighted average trading price of units for the 20 trading days prior to the relevant distribution date, which is normally the 15th of each month. Those unitholders wishing to enroll in the DRIP should contact the brokerage house or financial institution where their units are currently held and complete the required authorization form.

Primaris Retail REIT owns 26 properties comprising approximately 9.3 million square feet located in Canada. Primaris Retail REIT is a TSX listed real estate investment trust (TSX:PMZ.UN). As of July 31st, 2008 the REIT had 62,203,259 units issued and outstanding.