CAP REIT To Be Included In S&P/TSX Indices.

TORONTO -- Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN)("CAP REIT") announced today its Units would be included in the S&P/TSX Capped Income Trust Index and the S&P/TSX Capped REIT Index effective with the close of business on Friday, March 18.

Standard & Poor's is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. It plays a leading role in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions.

"We are very pleased to be included in these S&P/TSX indices," commented Thomas Schwartz, CAP REIT's President and CEO. "With the acquisition of ResREIT last June, we doubled the size of our high-quality portfolio and became one of Canada's largest residential landlords. In addition, our market capitalization increased to over $770 million, underpinned by a property portfolio with a net book value of almost $2 billion."

Mr. Schwartz concluded: "The ResREIT acquisition was perfect from a timing perspective. Our purchase price was well below replacement cost, and with the recent escalation in real estate values, we can be sure the portfolio is worth significantly more today than when we closed the deal in June."

As one of Canada's largest residential landlords, CAP REIT (TSX:CAR.UN) is a growth-oriented investment trust owning interests in 24,132 residential suites located in major urban centres from coast to coast across the country. Since its Initial Public Offering in May 1997, CAP REIT has grown monthly cash distributions per Unit by 51%. For more information about CAP REIT, its business and its investment highlights, please refer to our web site at www.capreit.net.

Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN)