Mr. Rai Sahi reports

MORGUARD CORPORATION AND MORGUARD REAL ESTATE INVESTMENT TRUST 2012 FIRST QUARTER RESULTS CONFERENCE CALL

Morguard Corp. and Morguard Real Estate Investment Trust (REIT) will hold a joint conference call on Thursday, May 10, 2012, at 4 p.m. EDT, to discuss the financial results for the quarters ended March 31, 2012, and 2011.

An overview of Morguard REIT's financial results will be provided by Tim Walker, chief financial officer of Morguard REIT, to be followed by Paul Miatello, chief financial officer of Morguard Corp. A joint question and answer session will then follow.

To participate in the conference call, please dial 647-427-7450 or 1-888-231-8191. Please quote conference ID No. 75932589.

For those unable to participate, a taped replay will be available after the completion of the call from 7 p.m. EDT until midnight on June 8, 2012. To access the replay, dial 416-849-0833 or 1-855-859-2056 and enter the passcode number No. 75932589.