TORONTO, Oct. 19 /CNW/ - Calloway REIT (TSX: CWT.UN) (TSX: CWT.DB) today announced that the trustees of the REIT have declared a distribution for the month of October 2006 of $0.12500 per trust unit, representing $1.50 per unit on an annualized basis. Payment will be made on November 15, 2006 to unitholders of record on October 31, 2006. Calloway Real Estate Investment Trust is an unincorporated open-end real estate investment trust created to invest in a geographically diversified portfolio of high quality retail shopping centres in Canada. The Toronto Stock Exchange neither approves nor disapproves of the contents of this Press Release. %SEDAR: 00017520E