Melcor Real Estate Investment Trust (TSX:MR.UN) (?Melcor REIT? or the ?REIT?) announced steps to strengthen its financial position and maximize unitholder value, including commencement of a strategic review process. Strategic Review Process: The Board of Trustees (the ?Board?) of Melcor REIT has established an Independent Committee (the ?Independent Committee?) to oversee a broad-based strategic review with a focus on unlocking unitholder value.

The Independent Committee will retain a financial advisor to evaluate a broad range of strategic alternatives to maximize unitholder value. DLA Piper (Canada) LLP has been retained as legal counsel to the Independent Committee. There can be no assurance that the strategic review process will result in the REIT pursuing or consummating any transaction or alternative, nor any assurance as to its outcome or timing.

The Independent Committee has not set a completion date for the culmination of the strategic review process and the REIT does not intend to comment further on the review until it determines that additional disclosure is appropriate or required.