Charter Real Estate Investment Trust (TSX-V: CRH.UN) Announces Distribution of $0.02587 Per Unit

TORONTO, ONTARIO, Jan 15 (MARKET WIRE) --
Charter Real Estate Investment Trust ("Charter REIT") (TSX VENTURE:
CRH.UN) is pleased to announce a $0.02587 per unit distribution for
January 2008. The distribution will be paid on February 15, 2008 to
unitholders of record on January 31, 2008.

Charter REIT currently has 17,601,912 trust units outstanding.

Distribution Reinvestment Plan

Charter REIT offers a distribution reinvestment plan whereby residents of
Canada may elect to have their cash distributions reinvested in
additional units of Charter REIT.

Charter REIT

Charter Real Estate Investment Trust is an open-end real estate
investment trust established under the laws of the Province of Ontario.
Charter REIT is focused on acquiring a portfolio of retail and mixed-use
retail real estate comprised of stable cash flow and value-add properties
from both primary and secondary markets throughout Canada, with the
principal goal of generating a reliable and growing yield for its
investors. Charter REIT currently owns six commercial real estate
properties located in Ontario and Quebec.

Certain statements included in this press release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions ''expect'', ''intend'', "will" and similar
expressions to the extent they relate to Charter REIT. The
forward-looking statements are not historical facts but reflect Charter
REIT's current expectations regarding future results or events. These
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ
materially from current expectations, including the ability of Charter
REIT to pay the distribution on the date specified. Although Charter REIT
believes that the assumptions inherent in the forward-looking statements
are reasonable, forward-looking statements are not guarantees of future
performance and, accordingly, readers are cautioned not to place undue
reliance on such statements due to the inherent uncertainty therein.
Charter REIT undertakes no obligation to update publicly or otherwise
revise any forward-looking statement or information whether as a result
of new information, future events or other such factors which affect this
information, except as required by law.

The Exchange Tower
130 King Street West
Suite 2240, P.O. Box 104
Toronto, Ontario M5X 1A4

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.

Contacts:
Charter Real Estate Investment Trust
Ari Silverberg
President and Chief Operating Officer
(416) 364-5705
(416) 364-2410 (FAX)

Charter Real Estate Investment Trust
Floriana Cipollone
Chief Financial Officer
(416) 364-5705
(416) 364-2410 (FAX)

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