TORONTO, ONTARIO--(Marketwire - Oct. 4, 2007) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that Robert Wolf, RioCan's Chief Financial Officer, has decided to resign from RioCan to pursue other interests. Mr. Wolf has agreed that his resignation will be effective in February 2008 after the release of RioCan's financial statements for the year ended December 31, 2007. A search will be conducted by management, in consultation with RioCan's board of trustees, to identify and select Mr. Wolf's replacement, to ensure a smooth transition.
RioCan also announced that Katherine Ritcey, RioCan's Vice President Investments, has resigned from RioCan effective November 1, 2007 to spend more time with her new family. Ms Ritcey will be replaced by Jonathan Gitlin, currently Assistant Vice President Investments, who will assume her responsibilities.
Edward Sonshine, Q.C., President and Chief Executive Officer of RioCan said, "Both Robert and Katy have been long-time members of our senior management team and have played significant roles in our growth and success. Although we are sorry to see them leave RioCan, we are grateful for their many years of service and wish them both well."
RioCan is Canada's largest real estate investment trust with a total market capitalization of approximately $8.4 billion. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 207 retail properties, including 10 under development, containing an aggregate of over 53 million square feet. For further information, please refer to RioCan's website at www.riocan.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
RioCan Real Estate Investment Trust
Edward Sonshine, Q.C.
President & CEO