Calloway Real Estate Investment Trust Announces Redemption of Series B Unsecured Debentures

TORONTO, ONTARIO–(Marketwired – Feb. 6, 2015) –

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITES STATES WIRE SERVICES

Calloway Real Estate Investment Trust (“Calloway”) (TSX:CWT.UN) today announced that it is issuing a notice of redemption to holders of its $150 million 5.37% Series B senior unsecured debentures due October 12, 2016 (the “Series B Debentures”), representing a redemption in full of all of the currently outstanding Series B Debentures. The Series B Debentures will be redeemed on March 9, 2015, in accordance with their terms, at a total redemption price of $1,072.07 plus accrued and unpaid interest of $21.774246 up to but excluding the redemption date, both per $1,000 principal amount. Total redemption price, including accrued interest, will be $164,076,636.99 (for the entire $150 million aggregate principal amount outstanding).

About Calloway

Calloway is one of Canada’s largest real estate investment trusts with total assets in excess of $7 billion. It owns and manages approximately 27 million square feet in 120 value-oriented retail centres having the strongest national and regional retailers, as well as strong neighbourhood merchants. Calloway’s vision is to provide a value-oriented shopping experience to Canadian consumers. For more information on Calloway, visit www.callowayreit.com.