Partners Real Estate Investment Trust announced that it has appointed two new independent Trustees to its Board. Orange Capital, LLC announced the names of five individuals that it would like to nominate for election to the Board of Trustees and stated that it will file a proxy circular. The Board of Trustees recommends that shareholders DO NOT vote using Orange Capital's proxy.

Appointment of New Independent Trustees: Consistent with its previously stated commitment to Board renewal, the REIT announced that Stephen Dulmage and Dexter John have been appointed to the Board of Trustees, effective immediately. The new Trustees are independent of both the REIT and Orange Capital and bring strong qualifications and skills to the Board: Stephen Dulmage, B.A., C.A. - Mr. Dulmage brings over 40 years of experience in the Canadian investment industry from both an employee and a shareholder perspective.