BTB REAL ESTATE INVESTMENT TRUST ANNOUNCES TODAY ITS 2009 FOURTH QUARTER FINANCIAL AND FISCAL YEAR-END RESULTS

Montreal, Québec (April 26, 2010): The trustees of BTB Real Estate Investment Trust (TSX”‘V: BTB.UN) (“BTB” or the “Trust”) announce today the 4th quarter financial and fiscal year end results for the period ended December 31, 2008 and the following highlights:

2009 A YEAR OF CONSOLIDATION

  • Stabilization of the financial position: first year since inception in which funds from operations (FFO) cover distributions
  • Increase of :   â–ª  8.7% of the Operating Income(1)

â–ª  9,6% of the Net Operating Income (NOI)

â–ª  48% of the EBTD

â–ª  18% of the EBITDA

â–ª  24% of the FFO

  • 12% reduction of real estate management fees and administrative costs: $1.732M (2009) vs $1.963M (2008)
    • Renewal of important leases: â–ª Hydro-Québec (for 10 years ”“ Complexe de Léry)

â–ª CSST (for 10 years ”“ Saint-Jean-sur-Richelieu)

â–ª SIQ (for 5 years ”“ Montréal)

  • Redevelopment of an important space: lease of 18,000 to Pharmaprix ”“ Shoppers Drug Mart (Dollard-des-Ormeaux)

(1)  8.7% increase in rental income form income producing building ($30,325M vs $27,906M)

BTB READY FOR THE ECONOMIC REVIVAL

  • Execution of a $25M acquisition credit line
  • Take-over bid on the shares of Cagim Real Estate Corporation, owner of $48M real estate portfolio and substantial liquidity

With its growth being slowed down by the financial crisis, BTB Real Estate Investment Trust consolidated its activities in 2009 by internalizing most of its building management, thereby improving its operational ratios, providing a tighter control of its real estate operating expenses as well as lowering its administrative costs.  Funds from operations in 2009 have for the first time exceeded distributions paid to Unitholders, thereby preserving liquidity.

The Trust is also pleased to announced the renewal of the lease with Hydro-Québec in Trois-Rivières for 10 years, as well as the renewal of the leases with Société immobilière du Québec and other paragovernmental organizations.  Finally, the Trust commenced the redevelopment of a building in Montréal in order to welcome in June a Pharmaprix / Shoppers Drug Mart pharmacy.

“As was the case for many small REITs, the financial crisis has been a major obstacle to BTB’s development.  Throughout 2009, our efforts were dedicated to the stabilization of our financial position and to put BTB in a situation where it will benefit from the economic revival.  We now have many business opportunities, such as Cagim, and aim to achieve growth and efficiency as envisaged under our initial business plan” stated Michel Léonard, President and Chief Executive Officer of BTB.

The Trust presents below the balance sheets as at December 31, 2009 and 2008 and the statements of income, and cash flows for the years then ended. These tables are extracted from the Audited Financial Statements and should be read together with the accompanying notes.

About BTB Real Estate Investment Trust 

BTB is a growth-oriented real estate investment trust listed on the TSX Venture Exchange. Its objective is to provide unitholders with stable cash distributions from investments in a quality portfolio of long-term leased office, industrial, commercial and retail properties predominantly located in the province of Quebec. BTB is led by an experienced management team with in-depth experience in the real estate industry and a Board of Trustees focused on governance and sound business practices.

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For further information, please contact Mrs. Marie-Ève Plamondon, Optimum Public Relations at 418”‘521”‘3749.

Or:

Mr. Michel Léonard

President Chief Executive Officer

514-286-0188, ext. 228

Mr. Benoît Cyr, C.A.

Vice-President and Chief Financial Officer

514-286-0188, ext. 230

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