Temple Real Estate Investment Trust Announces Plan To Convert To Corporation; Changes Name To Temple Hotels Inc

Temple Real Estate Investment Trust announced that the REIT and its affiliated entities, TR Trust, Temple Limited Partnership and Temple General Partner Inc., as well as a newly incorporated corporation named "Temple Hotels Inc." have entered into an agreement (the "Arrangement Agreement") relating to a proposed conversion of the REIT from a trust to a corporation (the "Conversion") pursuant to a statutory plan of arrangement (the "Plan of Arrangement") under the Canada Business Corporations Act (the ("CBCA"). The Conversion will be presented to holders ("Unitholders") of trust units ("Units") of the REIT for approval at a special meeting (the "Meeting") of the Unitholders at a date and time to be determined. If approved, the Conversion will result in the reorganization of the REIT into a new corporation called Temple Hotels Inc. ("New Temple").