Mainstreet Equity Corp.
TSX : MEQ

Mainstreet Equity Corp.

October 27, 2005 17:29 ET

Mainstreet Equity Corp.: News Release

CALGARY, ALBERTA--(CCNMatthews - Oct. 27, 2005) - MAINSTREET EQUITY CORP (TSX:MEQ) (the "Corporation") AND NAVJEET (BOB) DHILLON, President and Chief Executive Officer of the Corporation today announced that Navjeet (Bob) Dhillon has privately purchased 100,000 common shares of the Corporation. for a purchase price of $5.00 per common share. Following this acquisition, Navjeet (Bob) Dhillon owns or directly controls 3,748,400 common shares of Mainstreet or 40.5% of the issued and outstanding common shares of the Corporation. The common shares were acquired for investment purposes and Navjeet (Bob) Dhillon has no present intention to acquire ownership of, or control over, additional securities of the Corporation at this time.

As part of the foregoing transaction, Mainstreet has loaned the sum of $400,000 to Navjeet (Bob) Dhillon for purposes of financing a portion of the purchase price. The loan matures four (4) years following the date of advance, is interest free unless Mr. Dhillon leaves the employment of the Corporation within the next four (4) years and is secured by a hypothecation of the purchased shares in favor of the Corporation.

Mainstreet Equity Corp. is a publicly traded real estate company focused on the acquisition, re-development, re-positioning and management of "mid-market" multi-family residential rental properties across Canada.

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

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