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INTERRENT PROPERTIES LTD ("HOUS-Z") - Appoints The Johnston & Daniel Division Of Royal LePage Real - Estate Services Ltd. As Its Exclusive Real Estate Broker

InterRent Properties Ltd. ("InterRent" or the "Corporation") of Toronto is pleased to announce that it has appointed the Johnston & Daniel Division of Royal LePage Real Estate Services Ltd. as its exclusive Real Estate Broker, responsible for the sourcing and identification of residential income properties ideally suited to the Corporation's acquisition criteria.

A Corporation spokesman stated, "This arrangement with Royal LePage, the pre-eminent real estate company involved with the marketing of residential and commercial real estate in Canada, will ensure that InterRent is in possession of accurate, complete and timely information regarding available properties within the very competitive GTA market. Royal LePage's vast experience and expertise will also assist InterRent in negotiating the best possible purchase price and conditions for the benefit of InterRent's shareholders."

InterRent Properties Ltd. is an owner, operator and developer of multi-unit residential income properties within the GTA, concentrating its resources in the West End of Toronto, commonly known as Parkdale and Davenport. The Corporation's portfolio has grown from one, nine unit building in 1997, to the current twelve, and seventy-two respectively.

The Johnston & Daniel Division of Royal LePage Real Estate Services Ltd. is the number one office in Canada for dollar volume for 1999 in residential MLS listings sold.

The current issued and outstanding capital of the Corporation consists of 18,136,435 common shares and 14,085,000 warrants exercisable at $0.25 per share for a period of two years ending November 2, 2001.

All trades in the Corporation's common shares are reported to the Canadian Dealing Network Inc., for trade reporting purposes only.

TEL: (905) 773-2435

G. Michael Newman, President & CEO

FAX: (905)773-2437


TEL: (416) 489-2121

Gareth R. Jones,

Associate Broker Royal LePage Real Estate Services Ltd.

Johnston & Daniel Division E-Mail: