Charter Real Estate Investment Trust Announces Distribution of $0.01333 Per Unit

Charter Real Estate Investment Trust announce a $0.01333 per unit distribution for September 2008. The distribution will be paid on October 15, 2008 to unitholders of record on September 30, 2008.

Charter REIT currently has 18,016,858 trust units outstanding.

Distribution Reinvestment Plan

Charter REIT offers a distribution reinvestment plan whereby residents of Canada may elect to have their cash distributions reinvested in additional units of Charter REIT. To date, approximately 27% of the total issued and outstanding units have enrolled in the plan.

Charter REIT

Charter Real Estate Investment Trust is an open-end real estate investment trust established under the laws of the Province of Ontario. Charter REIT is focused on acquiring a portfolio of retail and mixed-use retail community and neighbourhood centres, generally in the mid-market deal size range of $10 to $40 million, comprised of stable cash flow and value-add properties from both primary and secondary markets throughout Canada. Charter REIT’s principal goal is to generate a reliable and growing yield for its investors. Charter REIT currently owns ten retail properties located in Ontario and Quebec.