CPI Crown Properties International Corporation

CPI Crown Properties International Corporation

April 07, 2006 10:16 ET

CPI Crown Properties International Corporation: Appointment of Mr. Tony Argento as C.E.O.

CALGARY, ALBERTA--(CCNMatthews - April 7, 2006) - Following the Annual General Meeting held on March 31, 2006, the board of directors of CPI Crown Properties International Corporation (TSX VENTURE:CWN)("CPI") reports that Nicholas Kazakoff has announced that he will retire as Chief Executive Officer effective March 31, 2006.

Mr. Tony Argento, Chief Operating Officer of CPI, has been appointed Chief Executive Officer (CEO) and has stepped down as President effective immediately. Nicholas Kazakoff will continue to serve CPI in his capacity as director and consultant of CPI.

Mr. Kazakoff, together with Mr. Richard DeVries founded CPI in 1998. During Mr. Kazakoff's leadership, CPI grew from one part time staff to over 20 in its Calgary office. Mr. Kazakoff built CPI over the next eight years into a land development company with residential and commercial building sites located in Alberta, and the United States and was instrumental in CPI's early development as a public company.

"Mr. Argento has an outstanding track record of delivering results for the company during his tenure with CPI. Mr. Argento's appointment as CEO ensures that the company has the right people in place to achieve future growth objectives. Mr. Argento's strong leadership, dedication and responsibility will be integral as CPI continues to execute its growth strategies. I am confident that CPI is in good hands and remains well positioned for continued growth", stated Nicholas Kazakoff.

Mr. Argento joined CPI in 2003 and was appointed Chief Operating Officer in 2004 and President of CPI in December 2005.

Mr. Argento said "I look forward to leading CPI in achieving the next phase of growth, especially given the momentum CPI has built and maintained throughout last year. Having worked closely with Nicholas Kazakoff has given me a solid foundation to build on. Mr. Kazakoff's contribution to the growth of the company is significant and I will continue to look to him for his continued guidance, experience and support as we take CPI to its next level of growth".

CPI Crown Properties International Corporation is a Calgary based land development company.

Certain statements in this news release could constitute forward-looking statements. The Corporation's line of business involves risk, uncertainties and other factors which may cause actual results, performance or achievements of CPI to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include number of estate lots that CPI will actually develop and or sell.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

CPI CROWN PROPERTIES INTERNATION 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.

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

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