Ms. Philippine Soulie reports

BTB ANNOUNCES THE FILING OF A FINAL BASE SHELF PROSPECTUS FOR $200,000,000

BTB Real Estate Investment Trust has filed and obtained a receipt for a final short form base shelf prospectus from the securities regulatory authorities in each of the provinces and territories of Canada. The final base shelf prospectus is valid for a 25-month period, during which BTB may offer:

• Trust units;
• Debt securities;
• Subscription receipts;
• Warrants;
• Any combination thereof, including securities comprising one or more of the foregoing, having an aggregate offering price of up to $200-million.

Any issue of securities under the shelf prospectus will require the filing of a prospectus supplement that will include specific terms of the securities being offered and the details regarding the plan of distribution.

The shelf prospectus was filed to provide BTB with financial flexibility and efficient access to Canadian capital markets to pursue strategic initiatives, which may include acquisitions.

A copy of the shelf prospectus can be found on BTB's SEDAR profile.

About BTB Real Estate Investment Trust

BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB invests in industrial, off-downtown core office and necessity-based retail properties across Canada for the benefit of its investors. As of today, BTB owns and manages 75 properties, representing a total leasable area of approximately 6.1 million square feet.