An anonymous director reports

H&R ANNOUNCES JULY AND AUGUST DISTRIBUTIONS

H & R Real Estate Investment Trust and H & R Finance Trust have declared distributions as shown in the attached table.

              Distribution/stapled unit   Annualized       Record date   Distribution date

July, 2015                     $0.11250        $1.35     July 17, 2015       July 31, 2015  
August, 2015                   $0.11250        $1.35     Aug. 17, 2015       Aug. 31, 2015 

We seek Safe Harbor.