Mr. Michel Dallaire reports

COMINAR ANNOUNCES BOUGHT DEAL FINANCING FOR GROSS PROCEEDS OF $125 MILLION

Cominar Real Estate Investment Trust has entered into an agreement to sell, on a bought-deal basis, 5,734,000 units from treasury to a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets. The units will be offered at a price of $21.80 per unit, for gross proceeds to Cominar of $125,001,200. The net proceeds of the sale of the units will be used to pay down debt outstanding under current credit facilities, to finance Cominar's continuing acquisition and development pipeline, including the proposed acquisition of Canmarc Real Estate Investment Trust, and for general and corporate purposes.

Cominar has also granted the underwriters an overallotment option to purchase 860,100 additional units, representing 15 per cent of the size of the offering. The overallotment option may be exercised until 30 days following the closing of the offering.

Cominar will, by Dec. 8, 2011, file with the securities commissions and other similar regulatory authorities in each of the provinces of Canada a preliminary short form prospectus relating to the issuance of the units. Closing of the offering is expected to take place on or about Dec. 22, 2011.

We seek Safe Harbor.