Attention Business/Financial Editors:

Whiterock REIT Declares August Distribution

    TSX - WRK.UN

    TORONTO, Aug. 20 /CNW/ - Whiterock Real Estate Investment Trust
("Whiterock") announced today that its distribution declared for the month of
August 2008 is $0.0935, representing $1.122 per Unit on an annualized basis,
an annualized yield of approximately 11.1 % based on the August 19, 2008 Unit
closing price of $10.10. Payment will be made on or about September 15, 2008
to Unitholders of record on August 31, 2008.
    At the close of business on August 19, 2008, Whiterock had 11,773,421
Units issued and outstanding.

    Reinvestment Program

    Whiterock's Distribution Reinvestment Plan allows Unitholders to purchase
additional Units using their distributions, without brokerage fees, at 96% of
the volume weighted average trading price for the ten days immediately
preceding a distribution payment date. The enrolment form and further details
are available at www.whiterockreit.ca/drip.html.

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For further information: www.whiterockreit.ca; Jason Underwood, (416)
907-4861; Paul Simcox, (416) 907-4862; Frank Bucys, CFO, (416) 907-4864