Declares Regular Quarterly Dividend

    MISSISSAUGA, ON, May 17 /CNW/ - Morguard Corporation (MRC TSX) announced
today that its Board declared a $0.14 per share quarterly dividend on its
common shares payable on June 29th, 2007 to shareholders of record as at June
15th, 2007.

    Morguard Corporation is a major Canadian real estate and property
management company. It has extensive retail, office, industrial and
residential holdings through its investments in Morguard REIT and Revenue
Properties Company Limited. Morguard provides management services to
institutional and other investors for commercial and residential real estate
through Morguard Investments Limited and Morguard Residential.
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