Morguard REIT declares May 2007 distribution of 7.5 cents per unit

May 15, 2007


    TORONTO, 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 2007. The distribution will be payable on June 15,
2007 to unitholders of record as at May 31, 2007.

    Morguard REIT is a closed-end real estate investment trust, which owns a
diversified portfolio of 68 high quality retail, office and industrial
properties in Canada with an approximate asset book value of $1.3 billion and
approximately 9.3 million square feet of leaseable space.

    %SEDAR: 00008756E

For further information:

For further information: K. Rai Sahi, Chief Executive Officer, Morguard
Real Estate Investment Trust, 55 City Centre Drive, Suite 1000, Mississauga,
ON, L5B 1M3, (905) 281-4800, Web site: www.morguardreit.com