TMX group

CALGARY, Nov. 22 /CNW/ - Northern Property Real Estate Investment Trust
(NPR.UN - TSX) announced today that its Board of Trustees has approved a 5.1%
increase in distributions to $1.38 annually. The increase takes effect with
the distribution for the month of December 2006. On a monthly basis the
distribution will increase from $0.1094 to $0.115. The increased level of
distribution will be paid starting January 15, 2007 to unitholders of record
on December 31, 2006.
This is the fourth consecutive distribution increase since Northern
Property's inception as a Real Estate Investment Trust in 2002. One of the
objectives of the Trust is to increase distributions periodically when there
is an expectation that an increase is sustainable.
Jim Britton, President & CEO of the Trust said, "The distribution
increase was based on positive performance of our rental portfolio coupled
with our low total leverage and our low payout ratio. The increase leaves us
with more than adequate funds to keep our buildings in top operating
condition."