PLZ Plazacorp Retail Properties Ltd.

FREDERICTON, NB, April 2, 2012 /CNW/ - Plazacorp Retail Properties Ltd. announced today that its Board of Directors has declared its regular quarterly cash dividend of $0.05375 per common share to be paid on May 15, 2012 to all common shareholders of record on April 16, 2012. For income tax purposes the full amount of this dividend is an eligible dividend.  Plazacorp acquires, develops and redevelops unenclosed and enclosed retail real estate throughout Atlantic Canada, Quebec and Ontario, which are predominantly occupied by national tenants (approximately 90% of the total). The Company's portfolio at April 2, 2012 includes interests in 114 properties totaling over 5.1 million square feet and additional lands held for development. These include properties directly held by Plazacorp, its subsidiaries and through joint ventures. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. PLAZACORP RETAIL PROPERTIES LTD. CONTACT: visit our website atwww.plaza.caOr contact: Michael Zakuta, President and CEO at (514) 457-0997 orFloriana Cipollone, CFO at (416) 848-4583

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