Whiterock Real Estate Investment Trust, ("Whiterock") today announced that it has closed $60 million, including closing costs, of previously announced acquisitions consisting of the ING Office Complex, as well as 2550 Quance Street, 4250 Albert Street, and 2220 College Avenue in Regina, Saskatchewan. Whiterock has now closed on $176 million of approximately $225 million of publicly announced transactions, the remainder of which are under binding purchase and sale agreements.

The ING Office Complex, which closed March 23, 2006, is a long-term sale leaseback transaction with the ING Insurance Company of Canada ("ING") covering a three-building, 231,500 square foot office complex located in Saint-Hyacinthe, Quebec, acquired for approximately $30.1 million, excluding closing costs. The lease has a term of 20 years with four, five-year extensions, includes CPI escalations, and is triple net including all structural repairs and maintenance expenses. Whiterock financed the acquisition with a new $20 million, 20 year fixed rate mortgage at 5.53%.

"The ING office complex adds to the foundation of a top tier portfolio that Whiterock has assembled, combining one newly constructed building and two newly renovated buildings with an A+ credit tenant. We have matched the 20 year lease term with 20 year fixed rate debt, creating highly stable, inflation protected cash flow on a long-term basis," commented Jason Underwood, CEO.

2550 Quance Street, which closed on January 12, 2006, is an 84,853 square foot retail centre acquired for $13.85 million, excluding closing costs, with a weighted average lease term of 6.9 years, located in the highest traffic area of Regina, Saskatchewan. This new format retail centre's tenants include Staples, Saskatchewan Liquor Store, Scotiabank, and CAA. It is shadow anchored by a Costco. Whiterock financed the acquisition with a new $10.5 million, 10 year fixed rate mortgage at 5.24%.

4250 Albert Street, which closed on January 10, 2006, is a 41,181 square foot retail centre acquired for $7.15 million excluding closing costs, and is anchored by a new format Sobeys grocery store under a long-term lease. Other tenants include the TD Bank, and the UPS Store. The retail centre, which is 98% occupied, has a weighted average lease term of 10.2 years, and is located on the primary thoroughfare in south Regina, Saskatchewan. Whiterock financed the acquisition with a new $5.75 million, 10 year fixed rate mortgage at 5.17%.

2220 College Avenue, acquired for $7.5 million excluding closing costs, closed on February 28, 2006. Located in Regina, Saskatchewan, it is a 59,590 square foot office building 100% leased to the provincial government until 2011, located directly on Wascana Park, across from the Legislative Building. Whiterock financed the acquisition with a new $5.65 million, 10 year fixed rate mortgage at 5.37%.

The Regina acquisitions continue to demonstrate Whiterock's commitment to a disciplined acquisition strategy. These assets are all very well located, have an average lease term of 7.2 years, and have 77% of revenues coming from government or credit tenants.

For further information on these completed transactions, as well as other announced transactions, please visit our website at www.whiterockreit.ca.

About Whiterock

Whiterock is a rapidly expanding, growth oriented real estate investment trust focused on increasing Unitholder value through the strategic acquisition, ownership and management of well-located, long-term leased office, industrial and retail properties in select markets across Canada. Since its formation as a Trust on June 28, 2005, Whiterock has acquired or announced it is acquiring approximately 1.9 million square feet with a value on acquisition of approximately $225 million.

Forward Looking Statements

This press release contains forward looking statements. Whiterock is subject to significant risks and uncertainties which may cause the actual results, performance or achievements of Whiterock to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Such risk factors include, but are not limited to, risks associated with real property ownership, availability of cash flow, restrictions on redemption, general uninsured losses, future property acquisitions, environmental matters, tax related matters, debt financing, Unitholder liability, potential conflicts of interest, potential dilution, and reliance on key personnel. A full description of these risk factors can be found in Whiterock's final prospectus dated June 21, 2005 which can be found at www.sedar.com. Whiterock cannot assure investors that actual results will be consistent with these forward looking statements and Whiterock assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release.

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For further information: Jason Underwood, (416) 907-4861; Paul Simcox, (416) 907-4862; Frank Bucys, CFO, (416) 907-4864

Source: newswire