Mr. Antoine Tronquoy reports

INOVALIS REAL ESTATE INVESTMENT TRUST ANNOUNCES AMENDMENT TO NOTICE OF MEETING AND INFORMATION CIRCULAR

Inovalis Real Estate Investment Trust has filed an amendment to the notice of meeting and management information circular of the REIT dated April 2, 2014, for the annual meeting of unitholders of the REIT to be held on May 7, 2014.

The notice of meeting and the information circular (in Part 2 under the heading "Particulars of matters to be acted upon at the meeting") incorrectly referred to Ernst & Young, societe anonyme, cabinet de revision agree, a member firm of Ernst & Young Global Ltd., as the auditor of the REIT proposed to be appointed for the ensuing year. Management of the REIT wishes to clarify that, in accordance with the declaration of trust of the REIT, Ernst & Young LLP, located at 222 Bay St., Toronto, Ont., also a member firm of Ernst & Young Global Ltd., acted as auditor of the REIT in connection with the audit of the financial statements of the REIT for the financial year ended Dec. 31, 2013, being the first completed financial year of the REIT. It is therefore proposed that Ernst & Young LLP be reappointed as auditor of the REIT for the ensuing financial year ending Dec. 31, 2014, and to hold office until the next annual meeting of unitholders of the REIT. Accordingly, all references to the auditor of the REIT in the notice of meeting and the information circular have been amended to refer to Ernst & Young LLP.

An amended form of proxy naming Ernst & Young LLP as the auditor proposed for reappointment at the meeting has been filed by the REIT on SEDAR concurrently with the filing of the amendment, will be mailed to unitholders and can also be obtained from the REIT upon request. Unitholders who have already submitted their proxy for the meeting need not take any further action, as the original form of proxy confers discretionary authority on the persons named therein with respect to amendments or variations to the matters identified in the notice of meeting, other matters which may properly come before the meeting, or any adjournment or postponement thereof. Accordingly, the persons named in the original form of proxy which accompanied the circular, and in the amended form of proxy filed in connection with this amendment, intend to vote for the reappointment of Ernst & Young LLP as the auditor of the REIT for the ensuing financial year, unless the unitholder of the REIT has specified in the form of proxy that the units represented by such form of proxy are to be withheld from voting in respect thereof.

The amendment has been filed by the REIT on SEDAR and on the REIT's website. Copies of the amendment will also be mailed to unitholders and will be available at the meeting or upon request.