Slate Retail REIT (TSX:SRT.UN/SRT.U) ("Slate Retail" or the "REIT") announced today that the board of trustees (the "Board of Trustees") has declared a distribution for the month of July 2014 of US$0.06 per class U unit of the REIT ("Class U Units"), representing US$0.72 per Class U Unit on an annualized basis.

Holders of Class U Units may elect to receive their distribution in Canadian dollars and should contact their broker to make such an election. If a holder of Class U Units elects to receive distributions in Canadian dollars, the holder will receive the Canadian dollar equivalent amount of the distribution being paid on the Class U Units based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution.

Holders of class A units of the REIT ("Class A Units") will receive a distribution equal to the Canadian dollar equivalent (based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution) of US$0.060468 per Class A Unit. Holders of class I units of the REIT ("Class I Units") will receive a distribution equal to US$0.063324 per Class I Unit. Holders of units of subsidiaries of the REIT that are exchangeable into Class U Units ("Exchangeable Units") will receive a distribution equal to US$0.06 per unit.

Distributions on all unit classes of the REIT, and distributions on Exchangeable Units, will be payable on August 15, 2014 to unitholders of record as of the close of business on July 31, 2014.

About Slate Retail REIT

Slate Retail REIT is an open-ended real estate investment trust focused on U.S. grocery-anchored real estate. The REIT's portfolio includes 29 properties located primarily across the top 50 US metro markets. The company is focused on maximizing value through internal organic rental growth and strategic acquisitions. For more information please visit slateretailreit.com