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April 4, 2007 Holloway Lodging Real Estate Investment Trust Announces grant of optionsHALIFAX, Apr 4, 2007 (Canada NewsWire via COMTEX News Network) -- /NOT FOR DISTRIBUTION ON U.S. WIRE SERVICES/

Holloway Lodging Real Estate Investment Trust (TSXV: HLR.UN) (the "REIT") announced today that it has granted options to acquire an aggregate of 62,000 units to employees of Pacrim Hospitality Services Inc., the REIT's property manager. These options are exercisable at a price of $4.88 per unit until April 4, 2012. One-third of the options may be exercised immediately, one-third will vest on April 4, 2008 and one-third will vest on April 4, 2009.

The TSX Venture Exchange does not accept responsibility for the adequacy

or accuracy of this press release.

%SEDAR: 00023845E

SOURCE: HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST

Mr. Glenn Squires, Chief Executive Officer of the REIT, (902) 457-1907

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