Morguard Corporation Announces CFO Appointment



    MISSISSAUGA, ON, April 25 /CNW/ - Morguard Corporation (TSX:MRC)
announced today the appointment of Mr. Paul Miatello as Chief Financial
Officer. Paul has worked with Morguard Corporation and its affiliated entities
since September 2000 and presently holds the offices of Vice President,
Finance of Morguard Corporation and Chief Financial Officer of Revenue
Properties Company Limited (TSX: RPC). Paul is a Chartered Accountant and has
more than 10 years experience in senior financial management and advisory
roles in the real estate sector.
    Paul replaces Mr. Don Turple who will continue as Chief Financial Officer
and Director of Tri-White Corporation and will remain a consultant to Morguard
Corporation.

    Morguard Corporation is a Canadian public real estate company with
approximately $8 billion in assets under management and a significant presence
in both the commercial and residential sectors of the real estate industry.

    %SEDAR: 00004260E




For further information:

For further information: K. (Rai) Sahi, Chairman & Chief Executive
Officer, Tel: (905) 281-5888, Email: rsahi@morguard.com, Web site:
www.morguard.com


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