Jannock Properties Limited
TSX VENTURE : JPL.UN

Jannock Properties Limited

September 27, 2007 19:33 ET

Jannock Properties Limited Reports Deferral of Jancor Payment

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2007) - Jannock Properties Limited (TSX VENTURE:JPL.UN) today reported that it has been advised that Jancor Companies, Inc. (Jancor) will not be making the payment of US$1,000,003 that is due on its subordinated debt on September 30, 2007. The deferment has been attributed by Jancor to ongoing weakness in earnings resulting from the soft US housing markets and from high resin costs.

The payment by Jancor was to be remitted to Jannock Properties under the terms of an agreement whereby Jannock Properties was to receive these monies from Jancor's subordinated lender after cumulative payments of principal and interest by Jancor on its subordinated debt reached a threshold level. At this time it is not possible to predict when or if the deferred payment will be made by Jancor.

The mandate for the Company is to dispose of its assets in a manner that maximizes value and distributes the net proceeds realized from those assets to shareholders in a timely fashion.

The Company's common shares are listed on the Canadian Venture Exchange (trading symbol: JPL.UN).

Forward-looking statements contained in this news release involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include local real estate markets, zoning applications, changes in interest rates and general economic conditions. In addition there are risk factors described from time to time in the reports and disclosure documents filed by Jannock Properties Limited with Canadian and U.S. securities regulatory agencies and commissions.

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