Primaris Announces New Independent Trustee

Thu Jul 17, 4:57 PM

TORONTO, ONTARIO--(Marketwire - July 17, 2008) - Primaris Retail REIT (TSX: PMZ-UN.TO) is pleased to announce that at its recent annual and special meeting, Unitholders elected G.T. (Tom) Gunn to its Board of Trustees. Mr. Gunn chairs the newly formed Management Resources Committee of the Primaris board.

Mr. Gunn is Chairman of the Advisory Committee of Tonbridge Capital Corporation. From 2004 to 2006, he was Founding President and Chief Executive Officer of UBC Investment Management Trust, an enterprise established by the University of British Columbia. He was Chief Investment Officer of OMERS, the Ontario Municipal Employees Retirement System from 1996 to 2003, and Chief Investment Officer of TD Trust, a subsidiary of the Toronto Dominion Bank, from 1995 to 1996. Previously he was Chief Financial Officer of Canada Trust.

Mr. Gunn holds a Bachelor of Arts degree from the University of Toronto, is a Chartered Financial Analyst and holds the Institute Certified Director designation from the Institute of Corporate Directors (ICD.D). Mr. Gunn has been a Director of a number of public and private company boards.

Primaris Retail REIT owns 26 properties comprising approximately 9.3 million square feet located in Canada. Primaris Retail REIT is a TSX listed real estate investment trust (TSX: PMZ-UN.TO). As of June 30th, 2008 the REIT had 62,179,175 units issued and outstanding.

Contacts

R. Michael Latimer
Primaris Retail REIT
Chief Executive Officer
(416) 865-5353

Louis M. Forbes
Primaris Retail REIT
Senior Vice President and Chief Financial Officer
(416) 865-5360