News

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17
Jan

INTERRENT PROPERTIES LTD. TO ACQUIRE TENTH RESIDENTIAL PROPERTY


Monday January 17, 2000


HOUS.CDN

Canadian Company Press Release

Toronto, Ontario--

Mr. G. Michael Newman reports
InterRent Properties has entered into an agreement to purchase from an arm's length party a four-unit multiunit residential income property in Toronto's west end for a purchase price of $380,000. The acquisition is scheduled to close on March 31, 2000. As a result of this acquisition the corporation now owns 10 properties containing 58 living units.

The current issued and outstanding capital of the corporation consists of 16,062,944 common shares and 15,785,000 warrants exercisable at 25 cents per share for a period of two years ending Nov. 2, 2001.

For further information contact:

G. Michael Newman, President & CEO
Tel: (905) 773-2435
Fax: (905) 773-2437
e-mail: interrent @canada.com

CONTACT INTERRENT PROPERTIES LTD. www.interrentproperties.com