Lanesborough Real Estate Investment Trust (TSX:LRT.UN) filed a Notice of Intention and received approval from the Toronto Stock Exchange to commence a normal course issuer bid on January 10, 2012. Under the bid, the company will repurchase 1,383,378 trust units representing approximately10% of the public float and 7.69% of its outstanding units. Purchases of securities pursuant the NCIBs will be made through the facilities of the TSX at the market prices at the time of the repurchase of units. All securities acquired by LREIT under the NCIB will be cancelled. Under the NCIB, the maximum number of securities that may be purchased by LREIT on a daily basis is 3,791 Trust Units. LREIT sought approval of the NCIB because it believes that, from time to time, the market price of the Trust Units may not fully reflect the underlying value of such securities. LREIT believes that, in such circumstances, the purchase of Trust Units represents an attractive investment for LREIT. The bid will valid from January 12, 2012 to January 11, 2013, or an earlier date in respect of a particular NCIB, should LREIT purchase the maximum number of the securities available under such NCIB. As of January 5, 2012, the company had 17,988,339 issued and outstanding units.

Lanesborough Real Estate Investment Trust's normal course issuer bid expired on January 11, 2013.