Innovative Properties Inc.
TSX VENTURE : INR

Innovative Properties Inc.

March 17, 2009 09:20 ET

Innovative Properties Inc.: New Director and Chairman of the Board of Directors, Annual General Meeting Date Set

HALIFAX, NOVA SCOTIA--(Marketwire - March 17, 2009) - THIS RELEASE IS NOT FOR DISSEMMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES.

Innovative Properties Inc. (the "Corporation") (TSX VENTURE:INR) is pleased to announce its board of directors has elected Ronald E. Smith, FCA of Halifax, Nova Scotia as a Director and Chairman of the board of directors.

By way of introduction, Ron Smith has over thirty years experience as a Chartered Accountant. As the CFO of two major Canadian public companies, he has more than 16 years of experience serving Boards and Audit Committees. He has served on Boards and Audit Committees of three Canadian public companies, and numerous not-for-profit organizations over the past 20 years. He is currently serving on the Canada Pension Plan Investment Board, the crown corporation managing over $100 billion of Canada Pension Plan funds. Mr. Smith is the current Chair of Acadia University Board of Governors. He is also currently CFO and a Director of ImmunoVaccine Technologies Inc. of Halifax. He completed the ICD Corporate Governance College Directors Education Program and obtained ICD Certified Director designation in 2004.

The Corporation also announced that its Annual General Meeting for Shareholders will be held in Halifax, Nova Scotia on May 11, 2009

ABOUT INNOVATIVE PROPERTIES INC.

The Corporation is a publicly traded Canadian corporation involved in property management and the development and management of real estate and real estate related technologies. The Corporation and its two subsidiaries' business is providing property management products and services to residential and commercial property owners.

On behalf of the Board of Directors

Gordon Neal, President, CEO & Secretary

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release. Innovative Properties Inc. seeks safe harbour.

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