Allied Properties REIT (TSX:AP.UN) announced today that it is amending its unit
option plan (the "Option Plan"), which was originally implemented on February 6,
2003, and amended on May 8, 2007, and May 11, 2010.


Allied has agreed to make amendments to the Unit Option Plan following
consultation with an independent proxy voting advisory firm. The amendments
include: (i) establishing a non-employee trustee participation limit; and (ii)
amending the amendment provisions to require unitholder approval for changes to
the Option Plan that (a) reduce the exercise price or cancel or reissue
non-insider options; (b) extend the original expiry of options for non-insiders;
(c) permit options to be transferable or assignable other than for normal estate
settlement purposes; (d) amend the non-employee trustee participation limit; or
(e) amend the Option Plan's amendment provisions. 


In addition, in consultation with the proxy voting advisory firm, Allied has
agreed to make certain technical amendments to its unitholder rights plan
agreement (the "Rights Plan") in order to ensure that the Rights Plan conforms
to current guidelines set by the firm for securityholder rights plans. Allied is
amending the definitions of "controlled" and "acting jointly or in concert" and
amending the redemption and waiver provisions to provide that the rights will
become void upon take up and payment for units pursuant to any "Permitted Bid",
"Competing Permitted Bid" or "Exempt Acquisition" (as defined in the Rights
Plan). Allied understands that, in light of these amendments, the proxy voting
advisory firm will be recommending to its clients who hold units of Allied that
they vote in favour of the resolutions reconfirming the Option Plan and the
Rights Plan.


The Option Plan, as amended, and the Rights Plan, as amended, are being
submitted to unitholders for approval at the upcoming Annual and Special Meeting
of the REIT. The Option Plan and the Rights Plan reflecting the proposed
amendments described above will be available on Allied's website and, upon
confirmation and approval by the unitholders, will be posted on SEDAR,
www.sedar.com.


Allied Properties REIT is a leading owner, manager and developer of urban office
environments that enrich experience and enhance profitability for business
tenants operating in Canada's major cities. Its objectives are to provide stable
and growing cash distributions to unitholders and to maximize unitholder value
through effective management and accretive portfolio growth.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Allied Properties REIT
Michael R. Emory
President and Chief Executive Officer
(416) 977-0643
memory@alliedreit.com
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