Innovative Properties Inc. - New officers, D.I.M.E. acquisition and grant of stock options



    /THIS RELEASE IS NOT FOR DISSEMMINATION IN THE UNITED STATES OR FOR
    RELEASE TO U.S. NEWSWIRE SERVICES./

    HALIFAX, Sept. 12 /CNW/ - Innovative Properties Inc. (the "Corporation")
(TSXV: INR) is pleased to announce its board of directors has elected two new
officers for the Corporation: Mr. Gordon Neal as President and Chief Executive
Officer (in addition to his role as Secretary and General Manager) and Boyd
Hunter as Vice President Finance and Chief Financial Officer. Bill Crandell
has resigned his post as Chief Financial Officer after years of dedicated
service and remains a director of the Corporation.
    By way of introduction, Gordon Neal held senior management and executive
positions from 1976 through 1999 with the Irving Group, and the Atlantic
Corporation Group Limited prior to developing several of his own companies in
Canada and the United States. He has business development and international
marketing experience in many diverse industries. Gordon has been working with
INR since early 2008 to reposition the company for the future.
    Boyd Hunter worked for a National Chartered Accounting firm in Edmonton,
Calgary, and Halifax from 1977-1991 and has grown and managed his own
Chartered Accounting firm since 1991. He has a wealth of experience with a
variety of businesses providing business advice as well as accounting, tax,
estate and financial planning services.
    The Corporation has substantially completed its due diligence required
for the purchase of all of the issued and outstanding shares of D.I.M.E. -
Dynamic Integrated Marketing Enterprises Inc. (DIME) and expects to close the
transaction in the near future, subject to TSX Venture Exchange approval and
the execution of all required agreements accordingly.
    The Corporation also wishes to announce it has granted a total of
869,995 stock options with an exercise price of $0.10 for a period of two
years from September 2, 2008 to September 2, 2010 to its directors and
officers equally pursuant to its existing Stock Option Plan, subject to TSX
Venture Exchange approval and the execution of stock option agreements
accordingly.

    On behalf of the Board of Directors:

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




For further information:

For further information: Gordon Neal, Innovative Properties Inc., (902)
463-2639, (902) 463-9897, info@innovativeproperties.com,
www.innovativeproperties.com

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INNOVATIVE PROPERTIES INC.

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