Calloway Real Estate Investment Trust Declares August 2008 Distribution

Mon Aug 18, 2:30 PM

TORONTO, ONTARIO--(Marketwire - Aug. 18, 2008) - Calloway REIT (TSX: CWT-UN.TO)(TSX: CWT-DB.TO)(TSX: CWT-DB.A.TO) today announced that the trustees of the REIT have declared a distribution for the month of August 2008 of CDN$0.129 per trust unit, representing CDN$1.548 per unit on an annualized basis. Payment will be made on September 15, 2008 to unitholders of record on August 29, 2008.

Calloway Real Estate Investment Trust is an unincorporated open-end real estate investment trust created to invest in a geographically diversified portfolio of high quality retail shopping centres in Canada.

The Toronto Stock Exchange neither approves nor disapproves of the contents of this Press Release.

Contacts

Steve Liew
Calloway REIT
Vice President - Finance
(905) 326-6400 ext. 7798
(905) 326-0783 (FAX)
Email: sliew@callowayreit.com