Plazacorp announces regular quarterly dividend

Jan 2, 2008

    FREDERICTON, Jan. 2 /CNW/ - Plazacorp Retail Properties Ltd.
(PLZ:TSX Venture) announced today that its Board of Directors has declared its
regular quarterly cash dividend of $0.04375 per common share to be paid on
February 15, 2008 to all common shareholders of record on January 17, 2008.
    For income tax purposes the full amount of this dividend is an eligible

    Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip
plazas throughout the Atlantic Provinces, Quebec and Ontario. Plazacorp now
owns interests in 90 properties comprising 4.1 million square feet of retail
real estate.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    %SEDAR: 00012014E

For further information:

For further information: on Plazacorp, visit our website at
or contact: Kim Sharpe, Director of Business Development, (506) 451-1826;
Peter Sheehan, Chief Financial Officer, (506) 451-1826