Real Estate Central

TORONTO, June 24 /PRNewswire-FirstCall/ - Revenue Properties Company
Limited (TSX: RPC) announced today that it has mailed to shareholders the
circular of its Board of Directors in response to the June 10, 2008 offer
by Morguard Corporation to acquire all of the common shares of Revenue
Properties not already owned by Morguard for consideration per share of
Cdn.$12.00 in cash or, at the option of each tendering Revenue shareholder,
0.33 of a Morguard common share. In the Directors’ Circular, the members of
the Board of Directors that are independent of Morguard unanimously
recommend to shareholders that they reject the Morguard offer and not
tender their shares thereto. A copy of the Directors’ Circular has also
been filed with securities regulators in Canada and may be found on the
SEDAR website under Revenue’s profile at http://www.sedar.com.

Revenue Properties Company Limited is a real estate company whose
primary focus is the acquisition, ownership and development of income
producing properties in Canada and the United States. The Company’s
diversified portfolio includes approximately 4.5 million square feet of
retail and office space as well as 3,414 residential apartment suites.

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[Via Real Estate Newswire]