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/NOT FOR DISTRIBUTION ON U.S. WIRE SERVICES/

HALIFAX, Nov. 30 /CNW/ - Holloway Lodging Real Estate Investment Trust (TSXV: HLR.UN) ("Holloway" or the "REIT") announced today that the TSX Venture Exchange has approved the unit option plan that the REIT adopted on November 24, 2006. The REIT also announced that it has granted options to acquire an aggregate of 645,000 units to trustees and officers of the REIT. These options are exerciseable at a price of $4.8875 per unit until November 30, 2011. One-third of the options may be exercised immediately, one-third will vest on November 30, 2007 and one-third will vest on November 30, 2008.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

For further information: Mr. Glenn Squires, Chief Executive Officer of
the REIT, at (902) 457-1907

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