CPI Crown Properties International Corporation
TSX VENTURE : CWN

CPI Crown Properties International Corporation

April 05, 2006 14:03 ET

CPI Crown Properties International Corporation: Purchase of 2.85 Acres in Calgary

CALGARY, ALBERTA--(CCNMatthews - April 5, 2006) - CPI Crown Properties International Corporation (TSX VENTURE:CWN) (CPI) is pleased to announce that as at March 3, 2006, it has, through its wholly owned subsidiary, CPI Southport Crown Centre Inc, finalized its purchase of 2.85 Acres of bare land prime commercial real estate located at 12175 40 Street SE; Calgary Alberta for a purchase price of $1,575,000. The purchase price was partially paid by way of mortgage secured as a first charge on the lands in the amount of $1,055,000.

CPI has applied to the City of Calgary for a development permit on the first phase of a four-phase multiple building office complex. The first phase will consist of a three storey 14,000 square foot building which CPI anticipates commencement of construction by late spring of 2006 and for completion by year end of 2006. CPI intends to develop the additional three phases that will total approximately 50,000 square feet of leaseable office space as market demand warrants.

CPI intends to relocate its offices and occupy the third floor of the first phase building and lease out the first two floors.

Mr. Tony Argento, President of CPI stated thatwe, at CPI, continue to execute on our strategy to acquire real estate and continue to broaden our footprint in the real estate market, moving in a direction where we see high potential for growth.

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 and outstanding.

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

Certain statements in this news release could constitute forward-looking statements. The Corporations 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 square feet and the number of commercial buildings that CPI will actually develop, sell and or lease.

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

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

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