KEYreit Unitholders - Tender to Plazacorp Offer Now

KEYreit reminds unitholders that Plazacorp's offer to acquire 100% of the issued and outstanding trust units of KEYreit for $8.35 per Unit in cash, subject to a maximum aggregate cash amount of approximately $62.1 million, representing approximately 50% of the consideration, 1.7041 Plazacorp shares per Unit or any combination thereof, subject to proration will expire at 8:00 p.m. (Toronto time) on May 16, 2013, and urges unitholders to tender their Units to the Plazacorp Offer prior to the expiry time.

The KEYreit board of trustees reiterates its support of, and UNANIMOUS RECOMMENDATION that unitholders ACCEPT, the Plazacorp Offer and TENDER their Units to the Plazacorp Offer by 8:00 p.m. (Toronto time) on May 16.   All of the trustees and officers of KEYreit have accepted the Plazacorp Offer and have tendered their Units to the Plazacorp Offer.

If you require assistance in depositing your Units to the Plazacorp Offer, please contact your investment advisor or KEYreit's information agent, Kingsdale Shareholder Services Inc., at 1-888-518-1562 toll-free in North America or at 416-867-2275 outside of North America (collect calls accepted) or by email at contactus@kingsdaleshareholder.com.

on May 13, 2013