CAP REIT Announces February, 2009 Distribution

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2009) - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAP REIT") announced today its February 2009 monthly distribution in the amount of $0.09 per Unit. The February distribution will be payable on March 15, 2009 to Unitholders of record on February 28, 2009.

To encourage participation and reward our loyal Unitholders, investors registered in our Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of their distributions paid in the form of additional Units.

As one of Canada's largest residential landlords, CAP REIT (TSX:CAR.UN) is a growth-oriented investment trust owning interests in 27,614 residential suites and two land lease communities comprising 1,278 sites located in or near major urban centres from coast to coast. Since its Initial Public Offering in May 1997, CAP REIT has grown monthly cash distributions per Unit by 51%. For more information about CAP REIT, its business and its investment highlights, please refer to our web site at www.capreit.net.