Morguard REIT declares May 2008 distribution of 7.5 cents per unit

May 15, 2008


    MISSISSAUGA, ON, May 15 /CNW/ - Morguard Real Estate Investment Trust
(TSX: MRT.UN) today announced that it has declared a distribution of 7.5 cents
per unit for the month of May 2008. The distribution will be payable on
June 13, 2008 to unitholders of record as at May 30, 2008.

    Morguard REIT is a closed-end real estate investment trust, which owns a
diversified portfolio of 50 high quality retail, office and industrial
properties in Canada with an approximate asset book value of $1.2 billion and
approximately 7.6 million square feet of leaseable space.

    %SEDAR: 00008756E

For further information:

For further information: Mr. K. (Rai) Sahi, Chief Executive Officer,
Morguard Real Estate Investment Trust, 55 City Centre Drive, Suite 1000,
Mississauga, ON, L5B 1M3, T: (905) 281-4800, F: (905) 281-4818, Email:
rsahi@morguard.com, Website: www.morguardreit.com