¡¡¡¡CALGARY, Oct. 15 /PRNewswire-FirstCall/ - Boardwalk Real Estate Investment Trust ("BEI.UN" - TSX) has declared its October 2007 distribution in the amount of 13.33 cents per Trust unit. The distribution will be payable on November 15, 2007 to Unitholders of Record on October 31, 2007.

    To encourage participation and reward unitholders, investors registered in the Distribution Reinvestment plan ("DRIP") will continue to receive a "bonus" distribution of additional Trust Units representing 3% of the amount of their cash distributions reinvested pursuant to the Plan. A full copy of the DRIP can be found on the Trust''s website at www.boardwalkREIT.com.

    Corporate Profile

    Boardwalk REIT is Canada''s largest owner/operator of multi-family rental communities. Boardwalk REIT currently owns and operates in excess of 260 properties with over 35,800 rental units totaling approximately 30 million net rentable square feet. The Trust''s portfolio is concentrated in the provinces of Alberta, British Columbia, Saskatchewan, Ontario and Quebec. Boardwalk REIT''s Trust units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN. The Trust''s total Enterprise Value is approximately $4.3 billion.

    Forward Looking Information

    This press release may contain forward looking statements. These statements relate, but are not limited to, Boardwalk REIT''s expectations, intentions, plans and beliefs. These forward looking statements can generally be identified by the use of words "anticipated", "expected" or the negative thereof or other comparable terminology. You should be aware that these statements are subject to known and unknown risks, uncertainties and other factors, including the risks discussed under the heading "Risk Factors" in the Annual Information Form of Boardwalk REIT available on www.sedar.com. Actual events or results may differ materially from those suggested by any forward-looking statements. You should not place undue reliance on any forward-looking statements contained in this press release. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Although management of Boardwalk REIT believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurances that future results, levels of activity, performance or achievements will occur as anticipated. None of Boardwalk REIT nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements, and no one has any obligations to update or revise any forward-looking statement, whether as a result of new information, future events or such other factors which affect this information, except as required by law.

    Source: Boardwalk Real Estate Investment Trust
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