RioCan Real Estate Investment Trust Announces April 2006 Distribution

RioCan Real Estate Investment Trust ("RioCan")(TSX:REI.UN) today announced a distribution of 10.75 cents per unit for the month of April. The distribution will be payable on May 5, 2006 to unitholders of record as at April 28, 2006.

About RioCan

RioCan's purpose is to deliver to its unitholders stable and reliable cash distributions, which continuously increase over time. RioCan is Canada's largest real estate investment trust with a total market capitalization of approximately $7 billion. It has ownership interests in a portfolio of 200 retail properties, including 12 under development, across Canada containing an aggregate of approximately 49 million square feet, including partners' and shadow anchors' interests.

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