Granite REIT Declares Monthly Distribution

                  Granite REIT Declares Monthly Distribution

PR Newswire

TORONTO, May 16, 2013

TORONTO, May 16, 2013 /PRNewswire/ - Granite Real Estate Investment Trust
("Granite") (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of
trustees has declared a distribution on Granite's stapled units of CDN$0.175
per stapled unit. The distribution will be paid by Granite on June 14, 2013
to stapled unitholders of record at the close of trading on May 31, 2013. The
stapled units will begin trading on an ex-dividend basis at the opening of
trading on May 29, 2013.

ABOUT GRANITE

Granite is a Canadian-based  REIT engaged in the  ownership and management  of 
predominantly industrial properties in North America and Europe. Granite  owns 
approximately 29  million square  feet in  107 rental  income properties.  Our 
tenant base  currently includes  Magna International  Inc. and  its  operating 
subsidiaries  as  our  largest  tenants,  together  with  tenants  from  other 
industries.

OTHER INFORMATION

Copies of financial data and other publicly filed documents are available
through the internet on Canadian Securities Administrators' Systems for
Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at
www.sedar.com and on the United States Securities and Exchange Commission's
Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be
accessed at www.sec.gov. For further information, please see our website at
www.granitereit.com or contact Tom Heslip, Chief Executive Officer, at
647-925-7539 or Michael Forsayeth, Chief Financial Officer, at 647-925-7600.

SOURCE Granite Real Estate Investment Trust

Contact:

please see our website atwww.granitereit.com or contact Tom Heslip, Chief
Executive Officer, at 647-925-7539 or Michael Forsayeth, Chief Financial
Officer, at 647-925-7600.
 
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