Coopers Park Corporation proposes stock consolidation and announces estimated "En Bloc" value per share of $1.52

    VANCOUVER, March 16 /CNW/ - Coopers Park Corporation (the "Corporation")
today announced that its Board of Directors (the "Board") has approved a
recommendation to its shareholders that they approve a stock consolidation of
voting shares (the "Voting Shares") and non-voting shares (the "Non-Voting
Shares") on the basis of one new Voting Share for each 50 old Voting Shares
and one new Non-Voting Share for each 50 old Non-Voting Shares. The
Corporation presently has issued and outstanding 33,877,884 Voting Shares and
3,205,658,126 Non-Voting Shares so that, following the consolidation, there
will be 677,558 Voting Shares and 64,113,163 Non-Voting Shares outstanding.
The proposal is to be presented to shareholders at the Annual and
Extraordinary Meeting of the Corporation to be held on April 12, 2007.
    Upon a stock consolidation on the basis of 1:50 of the Voting Shares of
the Corporation, the "en-bloc" market value of each Voting and Non-Voting
Share at December 31, 2006 would be $1.52 per share. The "en bloc" market
value is based on the unaudited table of adjusted shareholders' equity
attached to this press release. The amount of the "en-bloc" market value of
each Voting and Non-Voting Share reflects the net market value of the assets
of the Corporation if the properties under development of the Corporation were
recorded at their net market value at December 31, 2006 and the Corporation
completed, on that date, the purchase of two development sites that the
Corporation has agreed to purchase. The market value of the Properties, as at
December 31, 2006, was determined by an appraisal (the "Appraisal"), dated
February 28, 2007, by Altus Helyer, a Division of Altus Group Limited. The
Appraisal is available for viewing at
    The Corporation also announced that it has made a filing with the TSX
Venture Exchange ("TSX-V") with respect to the listing of its Voting Shares on
the TSX-V. Approval of the filing is conditional upon the fulfilment of a
number of conditions, including a condition that the initial trading price of
the Voting Shares be at least $0.15.
    The Corporation makes no representation of the amounts at which the
Voting and Non-Voting Shares of the Corporation may trade. The "en bloc"
market value is based upon the Appraisal. The "en bloc" market value is not a
forecast or projection of future results. The actual value of the Voting and
Non-Voting Shares will vary from the en-bloc market value and such variation
may be material.

    Coopers Park Corporation is in the business of the acquisition,
development and marketing of residential condominium properties and investment
in early stage information technology companies.

    The TSX-V does not accept responsibility for the adequacy or accuracy of
    this release.

                                 SCHEDULE A

                          Coopers Park Corporation
                        Adjusted Shareholders' Equity
                          At December 31, 2006(1)

    Shareholders' equity at book value(2)                   $     12,139,160

    Appraisal increase(3)                                         93,231,877

    Future income taxes(4)                                        (7,096,000)

    Adjusted shareholders' equity                           $     98,275,037

    Issued and outstanding capital stock
      Voting common shares                                        33,877,884
      Non-voting common shares                                 3,205,658,126


    "En-bloc" value per share                               $        0.03034

    Issued and outstanding capital stock after 50:1
      Voting common shares                                        677,557.68
      Non-voting common shares                                 64,113,162.52


    "En-bloc" value per share                               $        1.51681

                          Coopers Park Corporation
                   Notes to Adjusted Shareholders' Equity
                              December 31, 2006


    1.  Adjusted shareholders' equity has been prepared to reflect the equity
        of the Company on the basis that the Company completed the
        acquisition of its two building sites on December 31, 2006 and
        properties under development were recorded at their market value at
        December 31, 2006. The adjusted shareholders' equity has been
        prepared by adjusting the consolidated balance sheet of the Company
        as at December 31, 2006.

        Generally accepted accounting principles do not allow properties
        under development to be written up to market value. Accordingly,
        readers are cautioned that the adjusted shareholders' equity is not
        presented in accordance with generally accepted accounting principles
        (GAAP) or the Company's accounting policies as disclosed in Note 2 of
        the Company's December 31, 2006 consolidated financial statements.

        The adjusted shareholders' equity may not be indicative of the
        financial position which may be obtained in the future. The adjusted
        shareholders' equity is not a forecast or projection of future
        results. The actual shareholders' equity of the Company for any
        period following December 31, 2006 will vary from the amounts set
        forth in the adjusted shareholders' equity and such variation may be

        Adjusted shareholders' equity and "en-bloc" value per share are non-
        GAAP measures and, as there is no generally accepted method of
        calculating adjusted shareholders' equity or the "en-bloc value per
        share. The measures as calculated by the Company might not be
        comparable to similarly titled measures reported by other companies.
        Management believes that these measures provide investors with an
        indication of the basis for determining the value of the Company's

        Adjusted shareholders' equity should not be considered by an investor
        as an alternative to shareholders' equity as determined in accordance
        with GAAP. "En-bloc" value per share should not be considered by
        investors as the amount that the shares of the Company, when listed
        on the TSX-V, will trade for and it is likely that the shares will
        trade for a different amount. Such variation may be material.

    2.  The shareholders' equity at book value is the total shareholders'
        equity at December 31, 2006 as reported in the consolidated financial
        statements at that date.

    3.  Adjustment to restate properties under development to market value
        based on the assumption that the Company purchases the two
        development sites from Concord pacific Group Inc. for $61,368,600
        less previously paid cash deposits of $12,500,000. It has been
        assumed that the adjustment has no impact on current income taxes.

        The market value of the properties under development as at December
        31, 2006 as estimated by Altus Helyer, a Division of Altus Group
        Limited, in an appraisal report (the "Appraisal Report") dated
        February 28, 2006 addressed to the Company is $199,700,000. In the
        Appraisal Report, Altus Helyer defined market value as "the most
        probable price which a property should bring in a competitive and
        open market under all conditions requisite to a fair sale, the buyer
        and seller each acting prudently and knowledgeably, and assuming the
        price is not affected by undue stimulus". In the Appraisal Report,
        Altus Helyar stated that "the purpose of the report was to provide
        the opinion of Altus Helyer of the retrospective market value of the
        fee simple interest in the subject portfolio on an all cash basis at
        December 31, 2006, taking into consideration: the status of the
        construction of the towers, the timeline to complete the towers, the
        contractual pre-sale commitments in place for purchase of the end
        units and estimate revenues for the remaining unsold/uncommitted
        units in each of the three towers". The estimate of market value is
        subject to the assumptions, limitations and conditions contained in
        the appraisal report. A copy of the Appraisal Report is available on
        the Internet at

    4.  Adjustment for future income taxes related to the difference between
        the adjusted accounting basis of properties under development at
        December 31, 2006 and their tax basis. Future income taxes have been
        calculated using the December 31, 2006 tax rate. The tax benefit as
        at December 31, 2006 of the previously unrecognized future income tax
        asset related to the Company's non-capital losses carried forward has
        been recognized to offset future income tax liabilities related to
        adjusting the carrying value of the Properties under development.

For further information:

For further information: Dennis Au-Yeung, Vice President, Chief
Financial Officer and Corporate Secretary, Telephone: (416) 813-1012

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