TMX group

www.westfieldreit.ca
WFD.UN on the TSX-V
info(at)westfieldreit.ca

WINNIPEG, March 20 /CNW/ - Westfield Real Estate Investment Trust   
(TSXV: WFD.UN) ("Westfield") announced today that the Toronto Stock Exchange
("TSX") has conditionally approved the listing of its securities (units and
convertible debentures). The conditional listing approval allows Westfield to
list its securities on the TSX within 90 days and is subject to Westfield
filing final listing documentation with the TSX.
Westfield intends to file final listing documentation with the TSX and to
have the listing effective by the end of the first week of April, 2006.
Westfield will make a further announcement once the effective date of the
listing is determined.
Armin Martens, President and Chief Executive Officer of Westfield said:
"The graduation of Westfield to the TSX is an important milestone for us, as
we continue to broaden our distribution, execute on our business plan and
enhance unitholder value".

Westfield is a real estate investment trust listed as a Tier 2 issuer on
the TSX Venture Exchange with the objective of acquiring and maintaining a
growing portfolio of properties with stable cash distributions. Westfield
intends to initially focus on properties located in Western Canada, primarily
in Alberta. There are currently 11,531,814 trust units of Westfield issued and
outstanding.

This press release contains forward-looking statements. Westfield is
subject to significant risks and uncertainties which may cause the actual
results, performance or achievements of Westfield to be materially different
from any future results, performance or achievements expressed or implied in
these forward-looking statements. Such risk factors include, but are not
limited to, risks associated with real property ownership, availability of
cash flow, general uninsured losses, future property acquisitions,
environmental matters, tax related matters, debt financing, unitholder
liability, potential conflicts of interest, potential dilution, reliance on
key personnel, changes in legislation and potential changes in the tax
treatment of trusts. Westfield cannot assure investors that actual results
will be consistent with any forward-looking statement and Westfield assumes no
obligation to update or revise such forward-looking statements to reflect
actual events or new circumstances.

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this press release.