TMX group

WINNIPEG, Nov. 17 /CNW/ - Westfield Real Estate Investment Trust
(TSX: WFD.UN) ("Westfield REIT") announced that its trustees have declared its
regular monthly cash distribution of $0.0875 per trust unit ("Unit") of
Westfield for the month of November, 2006. The cash distributions will be made
on December 15, 2006 to Unitholders of record on November 30, 2006.

Westfield REIT is a growth-oriented real estate investment trust focused
exclusively on commercial properties located in primary and growing secondary
markets in western Canada, particularly in Alberta. Westfield's goal is to
provide unitholders the opportunity to invest in high-quality western Canadian
office, retail and industrial properties, as well as to provide monthly cash
distributions that are stable, tax efficient, and growing over time.

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