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AMY 8.20 AmREIT Announces Share Repurchase Program
Jun 25, 2007 8:00:00 AM

HOUSTON, June 25 /PRNewswire-FirstCall/ -- AmREIT (Amex: AMY), a Houston- based real estate investment trust, announced today that its Board of Trustees authorized up to $5 million for the purchase of outstanding Class A Common Shares of Beneficial Interest. Share repurchases may be made in the open market or in privately negotiated transactions at the discretion of the Company's management, and as market conditions warrant. The share repurchase program will be funded with available cash or other financing proceeds and may be discontinued at any time.

"Given current market prices, we believe executing a share repurchase program allows us to pursue an attractive investment opportunity," said Kerr Taylor, AmREIT's chief executive officer. "As we have demonstrated in the past with previous share repurchases and other capital structure initiatives, we search for investment opportunities which best benefit the long-term interests of the Company and our shareholders. We will balance our share repurchase program with other investment alternatives."

About AmREIT

AmREIT (Amex: AMY) is a growing real estate company that has delivered results to its investors for 22 years. Our mission is to build a real estate business with complementary operations that reduce our overall sensitivity to changing market cycles -- a company with strong earnings potential from multiple sources. This mission has led AmREIT into three distinct businesses. First, as a real estate development and operating company, it constructs, develops, acquires, disposes of, brokers, leases and manages properties for shareholders as well as for its asset advisory group and third parties. Second, AmREIT has an asset advisory group which raises private capital for and generates fees from merchant development partnership funds. Third, AmREIT owns a portfolio of "Irreplaceable Corners(TM)" -- premier retail properties in high-traffic, highly populated areas -- which are held for long-term value and provide a steady stream of rental income. As of March 31, 2007, AmREIT has over 1.2 million square feet of retail centers in various stages of re- development, development or in the pipeline for both our advisory group and for third parties. As of March 31, 2007, total assets were $340 million and the asset advisory group managed an additional $282 million in total assets.

For more information regarding AmREIT, call Chad Braun at 713-850-1400 or Tripp Sullivan with Corporate Communications Inc. at 615-254-3376.

SOURCE AmREIT

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Chad C. Braun of AmREIT
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