Early Warning News Release for Ron Joyce

EARLY WARNING NEW RELEASE
PURSUANT TO NATIONAL INSTRUMENT 62-103 AND 62-104

/NOT FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Oct. 18, 2017 /CNW/ - Ronald Joyce announced today that on October 17, 2018, he acquired, through his holding company Jetport Inc, 50,000 trust units ("Units") of Artis Real Estate Investment Trust ("Artis REIT") (representing approximately 0.04% of the 150,593,232 Units issued and outstanding) at a price of $13.68 per Unit for a total purchase price of $685,500 through the facilities of the Toronto Stock Exchange.

As a result of the acquisition of 50,000 Units, Mr. Joyce's direct and indirect beneficial ownership and control over Units (personally and together his holding companies, Jetport Inc. and Fox Harb'r Development Limited) increased by approximately 0.04% to an aggregate of 15,050,000 Units, representing approximately 10% of the 150,503,232 Units issued and outstanding.

Mr. Joyce also sits on the seven (7) member board of trustees of The Joyce Family Foundation (the "Foundation") comprised of three members of the Joyce family and four independent board members.  The Foundation owns 750,000 Units for investment purposes.  If Mr. Joyce is considered to control Units owned by the Joyce Foundation, the aggregate number of Units that Mr. Joyce directly or indirectly beneficially owns or controls is 15,800,000, representing approximately 10.5% of the 150,593,232 Units issued and outstanding.

Mr. Joyce is a long time investor in Artis REIT and acquired the above-noted Units for investment purposes.

In the future, Mr. Joyce may acquire or dispose of Units from time to time through, among other things, the purchase or sale of Units on the open market or in private transactions or otherwise, subject to various factors, including general market and economic conditions and other investment and business opportunities available.

Mr. Joyce fully supports Artis REIT's current vision and strategic direction and has full confidence in Artis REIT's current management and board of trustees.

Artis REIT's head office is located at 300-360 Main Street, Winnipeg Manitoba R3C 3Z3.

SOURCE Ronald Joyce