MISSISSAUGA, ONTARIO -- (MARKET WIRE) -- 05/19/06 -- Retirement Residences Real Estate Investment Trust ("Retirement REIT") (TSX:RRR.UN) today announced that a distribution of $0.070 per unit has been declared for May, 2006, payable June 15, 2006, to the unitholders of record as at May 31, 2006.

Retirement REIT has available a Distribution Reinvestment Plan ("DRIP"). Participants in the DRIP will receive a "bonus" distribution of units equal in value to 3% of each cash distribution purchased under the DRIP. Unitholders should contact their investment advisor if they are interested in participating in the DRIP.

Retirement REIT is the largest provider of accommodation and care for seniors in Canada. Retirement REIT owns 216 retirement and long term care facilities, including 33 facilities in select United States markets, and provides management services to 10 homes for other parties, with an aggregate resident capacity in excess of 25,000. Retirement REIT also provides nursing placement and in-home health care through its Central Health Services unit. For further information, see the Retirement REIT website at www.retirementreit.com.

Certain statements contained in this news release may include forward-looking information with respect to Retirement REIT's operations and future financial results. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, availability of resources, competitive pressures, changes in market activity and regulatory requirements. Further information on uncertainties, risks and other matters can be found in the disclosure documents filed by Retirement REIT with the securities regulatory authorities, available at www.sedar.com.

Contacts:
Retirement Residences Real Estate Investment Trust
Tim Benson
Director, Investor Relations
(289) 360-1224
(289) 360-1228 (FAX)