Plazacorp announces regular quarterly dividend

Jul 2, 2009

    FREDERICTON, July 2 /CNW/ - Plazacorp Retail Properties Ltd. (PLZ:TSX
Venture) announced today that its Board of Directors has declared its regular
quarterly cash dividend of $0.04625 per common share to be paid on August 17,
2009 to all common shareholders of record on July 16, 2009.
    The Corporation intends to make an election under subsection 131(1) of
the Income Tax Act (Canada) deeming 25% of the dividend ($0.011563 per common
share) to be a capital gains dividend, payable out of the Corporation's
capital gain dividend account, with the remaining 75% ($0.034687 per common
share) to be a regular dividend. This regular dividend is an "eligible
dividend" for income tax purposes.

    Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip
plazas throughout the Atlantic Provinces, Quebec and Ontario.  Plazacorp, as
at July 2, 2009 now owns interests in 98 properties comprising 4.3 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: Earl Brewer, Chairman or Kim Sharpe, Director of
Business Development, (506) 451-1826