RioCan Real Estate Investment Trust Announces January 2009 Distribution

TORONTO, ONTARIO--(Marketwire - Jan. 15, 2009) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced a distribution of 11.5 cents per unit for the month of January. The distribution will be payable on February 6, 2009 to unitholders of record as at January 30, 2009.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $6.3 billion as at December 31, 2008. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 239 retail properties, including 16 under development, containing an aggregate of over 58 million square feet. For further information, please refer to RioCan's website at www.riocan.com.