RioCan Real Estate Investment Trust Announces July 2008 Distribution

TORONTO, ONTARIO–(EMWNews – July 15, 2008) – RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) today announced a distribution of 11.25 cents per unit for the month of July. The distribution will be payable on August 8, 2008 to unitholders of record as at July 31, 2008.

About RioCan

RioCan is Canada’s largest real estate investment trust with a total capitalization of approximately $7.5 billion. It owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 227 retail properties, including 15 under development, containing an aggregate of almost 59 million square feet. For further information, please refer to RioCan’s website at www.riocan.com.