CAPREIT Announces August, 2009 Distribution

TORONTO, ONTARIO--(Marketwire - Aug. 13, 2009) - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAPREIT") announced today its August 2009 monthly distribution in the amount of $0.09 per Unit. The August distribution will be payable on September 15, 2009 to Unitholders of record on August 31, 2009.

To encourage participation and reward our loyal Unitholders, investors registered in our Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of their distributions paid in the form of additional Units.

As one of Canada's largest residential landlords, CAPREIT (TSX:CAR.UN) is a growth-oriented investment trust owning interests in 27,614 residential suites and two land lease communities comprising 1,288 sites located in or near major urban centres from coast to coast. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 51%. For more information about CAPREIT, its business and its investment highlights, please refer to our web site at www.capreit.net and our public disclosure which can be found under our profile at www.sedar.com.