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March 6, 2008 Holloway Lodging Real Estate Investment Trust announces grant of optionsHALIFAX, Mar 6, 2008 (Canada NewsWire via COMTEX News Network) -- /NOT FOR DISTRIBUTION ON U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE

UNITED STATES/

Holloway Lodging Real Estate Investment Trust (TSX: HLR.UN) (the "REIT") announced yesterday that it has granted options to acquire an aggregate of 473,685 units to trustees and employees of the REIT and an aggregate of 16,182 units to employees of Pacrim Hospitality Services Inc., the REIT's property manager. These options are exercisable at a price of $3.41 per unit until March 5, 2013. One-third of the options may be exercised immediately, one-third will vest on March 5, 2009 and one-third will vest on March 5, 2010.

%SEDAR: 00023845E

SOURCE: Holloway Lodging Real Estate Investment Trust

Mr. Glenn Squires, Chief Executive Officer of the REIT; Mr. Michael Jackson,
President and Chief Operating Officer of the REIT; Tracy Sherren, Chief Financial
Officer of the REIT; (902) 457-1907

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