MONTREAL, QUEBEC -- (MARKET WIRE) -- 10/19/2006 -- Alexis Nihon Real Estate Investment Trust (TSX: AN.UN) today announced the monthly cash distribution for the month of October has been set at $0.0917 per unit, or $1.10 per unit on an annualized basis. The cash distribution will be paid on November 15, 2005, to unitholders of record as at October 31, 2006.

About Alexis Nihon REIT

The REIT currently owns interests in 65 office, retail, and industrial properties, including a 426-unit multi-family residential property, located in the greater Montreal area and the National Capital Region. The REIT's portfolio has an aggregate of 9.1 million square feet of leasable area, of which 0.4 million square feet is co-owned.