CPI Crown Properties International Corporation

CPI Crown Properties International Corporation

March 02, 2005 22:22 ET

CPI Crown Properties International Corporation Announces Its Program Of Marketing Undivided Interests In Real Estate Investments


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CPI CROWN PROPERTIES INTERNATIONAL CORPORATION

TSX VENTURE SYMBOL: CWN

MARCH 2, 2005 - 22:22 ET

CPI Crown Properties International Corporation
Announces Its Program Of Marketing Undivided Interests
In Real Estate Investments

CALGARY, ALBERTA--(CCNMatthews - March 2, 2005) - CPI Crown Properties
International Corporation ("CPI") (TSX VENTURE:CWN) has created an
investment vehicle whereby individuals can directly purchase undivided
interest units (UDIs) or use their RRSP funds to purchase the UDIs in
two real estate projects.

Under the RRSP plan, investors will be able to buy shares in a private
company named Quotavest Inc. that will, in turn, purchase UDIs for a
joint venture in the development and sale of either a large condominium
project in Airdrie, Alberta (Crown Shores), or an estate housing project
in southwest Calgary (Crown Vista Estates). In both cases, the lands for
these projects have already been acquired by CPI.

Crown Shores, the Airdrie condominium development, has been designed to
consist of 500 units. Construction of the first 120 units of this
500-unit project is scheduled to begin in spring 2005. Crown Shores has
been designed to be ecologically friendly. The project has been
carefully shaped to pick up significant amounts of the sun's heat,
thereby utilizing the economical benefits of passive solar heat. This
passive solar heat system will be augmented by a proposed state-of-the
art heating and cooling system. The other ecologically-friendly aspects
feature water conservation and the use of safe construction materials
that won't emit toxic fumes into resident's living spaces.

The second project is named Crown Vista Estates. This project is being
anticipated to be far more ecologically efficient than Crown Shores, as
each of the proposed 170 estate homes is being designed to provide their
own power and heat, in conjunction with water conservation and safe
construction materials as key features. The property boundaries of Crown
Vista Estates to the north and west are the Calgary City limits which
are adjacent to Fish Creek park and adjacent to the Tsuu T'ina Native
Reserve. The wide-open spaces of the adjacent Native Reserve will allow
unimpeded views of the majestic Rocky Mountains. Construction of the
Crown Vista Estates project is anticipated to begin in three to eight
years.

Investor returns respecting the UDIs are projected to be between 18% and
24% per annum over five to eight years.

Olympia Trust Company is acting as trustee for investor RRSP funds, and
Collins Barrow Calgary LLP, Chartered Accountants and Consultants,
prepared the tax opinion on which the RRSP investment is based.

CPI CROWN PROPERTIES INTERNATIONAL CORPORATION IS A TIER 1 company whose
common shares are listed for trading on the TSX Venture Exchange under
the symbol of CWN. There are currently 10,404,305 shares issued,
8,109,039 are outstanding and 2,295,266 are held in escrow.

The TSX Venture Exchange Inc. does not accept responsibility for the
adequacy or the accuracy of this news release. The TSX Venture Exchange
has neither approved nor disapproved of the contents of this press
release.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    CPI Crown Properties International Corporation
    Tony Argento, B.A., B.E.D.S., M. Arch
    (403) 291-2456
    info@cpicrown.com
    www.cpicrown.com