RioCan Real Estate Investment Trust Announces April 2008 Distribution

TORONTO, ONTARIO--(Marketwire - April 15, 2008) - RioCan Real Estate Investment Trust (TSX:REI.UN) ("RioCan") today announced a distribution of 11.25 cents per unit for the month of April. The distribution will be payable on May 7, 2008 to unitholders of record as at April 30, 2008.

About RioCan

RioCan is Canada's largest real estate investment trust with a total market capitalization of approximately $7.6 billion. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 214 retail properties, including 12 under development, containing an aggregate of over 55 million square feet. For further information, please refer to RioCan's website at www.riocan.com.