RioCan Real Estate Investment Trust Announces Distribution for Preferred Units, Series A and Series C

TORONTO, ONTARIO--(Marketwire - Dec. 17, 2012) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.PR.A)(TSX:REI.PR.C) today announced the following distributions for RioCan's outstanding preferred trust units:

• $0.328125 per preferred unit, Series A (the "Series A Units") for the quarter ending December 31, 2012. The distribution will be payable on December 31, 2012 to unitholders of the Series A Units of record as at December 31, 2012.

• $0.29375 per preferred unit, Series C (the "Series C Units") for the quarter ending Decenber 31, 2012. The distribution will be payable on December 31, 2012 to unitholders of the Series C Units of record as at December 31, 2012.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $13.9 billion as at September 30, 2012. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 338 retail properties containing more than 80 million square feet, including 49 grocery anchored and new format retail centres containing 12.4 million square feet in the United States through various joint venture arrangements as at September 30, 2012. RioCan's portfolio also includes 10 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.