General Properties Ltd. announces the appointment of additional directors, the appointment of officers and the granting of stock options

    CALGARY, June 18 /CNW/ - General Properties Ltd. (TSX Venture Exchange:
GPL) (the "Corporation") is pleased to announce the appointment of additional
directors to the board of directors of the Corporation, the appointment of
officers of the Corporation and the granting of stock options to acquire
common shares of the Corporation.

    Appointment of Additional Directors

    The Corporation is also please to announce that at its annual meeting of
shareholders held on May 25, 2007, the shareholders resolved and appointed
three new and additional directors to the board of directors of the
Corporation, Mr. Morley Nathan Katz, Mr. John Palmer Holmes and Mr. Art Smith.
    Mr. Katz is a Toronto based entrepreneur who is the founder and Managing
Director of Management Matters Inc., a management consulting business focused
on bridging the gap between strategy and execution. Mr. Katz holds a Bachelor
of Science degree from Queen's University and a Masters of Applied Science
from the University of Waterloo. Mr. Katz is also an active Professional
    Mr. Holmes is based in Honk Kong and acts as Managing Director of LGT
Investment Management (Asia) Ltd. Mr. Holmes holds a Bachelor of Arts degree
from the University of Calgary.
    Mr. Smith, C.M., D.F.C., O.C., A.O.E., Hon. LL.D., is based in Calgary
and has had a long and illustrious career in business and he has made
significant contributions to public life. He is one of few Canadians to have
served as a City Alderman (Calgary, elected 1953, 1963), member of a
provincial Legislature (Alberta, elected 1955), and Member of Parliament
(elected 1957, 1958, 1962). While an MP, he was Chairman of several
parliamentary committees, and was an advisor and Canadian delegate to the
United Nations (1957-1963). While at the UN he was a representative on the
Special Political Committee of the General Assembly. Mr. Smith was Chairman
and Chief Executive Officer of SNC Partec Inc. and Lavalin Services Inc. On
his retirement he was retained as a Senior Consultant to Management of
SNC-Lavalin Inc. Mr. Smith was a founding Co-Chairman of the Calgary Economic
Development Authority and the Alberta Economic Development Authority. He was
Editor of "Oil in Canada" and "Petroleum Exploration Digest" (1952),
Vice-President of Foster Advertising Ltd., President of Ventures Management
Ltd., and President of International Jet Air.
    The board of directors of the Corporation now consists of Messers Robert
Knight, Robert Peterson, Leslie Cahan, Peter Holmes, Morley Katz, John Holmes
and Art Smith.

    Appointment of Officers

    The Corporation also announces that the board of directors of the
Corporation have appointed the officers of the Corporation for the ensuing
year. Mr. Robert Knight is to continue on as Chief Operating Officer and Chief
Financial Officer for the ensuing year but has also been appointed to the
office of President. Mr. Peter Holmes is to continue on as Chief Executive
Officer for the ensuing year but has also been appointed to the office of
Vice-President. Mr. Leslie Cahan has been appointed as Chairman and Corporate
Secretary for the ensuing year.
    Mr. Cahan has been a director of the Corporation since March 30, 2007 and
has over 55 years of experience in development, construction, manufacturing &
marketing and mining. Mr. Cahan pioneered the development of mobile camps for
the oil and gas industry as well as pipeline construction companies. Mr. Cahan
manufactured the majority of all mobile camps for Transcanada Pipeline Ltd.
and West Coast Transmission Company Ltd. and as well for the geophysical and
geological exploration companies, through United Trailer Company. Mr. Cahan
was a partner in North King Equipment Canada Ltd., a private company which
manufacturers the first off-highway transport equipment for drilling and
exploration companies. Mr. Cahan was a partner in Can Amera Oil Sands Ltd.
which developed the first tar sands separator. Mr. Cahan was a partner in
Nanisivick - on Baffin Island - one of the world's largest zinc mines as well
as a large number of other ventures in the resource, real estate and
manufacturing sectors. Mr. Cahan was a director of Goldspring Inc. (a precious
metals mining company with operations in Nevada and mineral rights in Canada
and which trades on the OTC Bulletin Board) from November 2003 to June 2006.

    Grant of Options

    The Corporation also announces the grant of options to acquire an
aggregate of 2,600,000 common shares of the Corporation at an exercise price
of $0.55 per share, such options to expire three years from the date of grant.
Directors and officers of the Corporation were issued options to purchase that
number of common shares of the Corporation as set forth opposite their name as

               Director/Officer               Number of Common Shares
               ----------------               -----------------------
               Robert Knight                           600,000
               Leslie Cahan                            600,000
               Peter Holmes                            600,000
               Robert Peterson                         200,000
               Morley Katz                             200,000
               John Holmes                             200,000
               Art Smith                               200,000

    The Corporation is a mining exploration and development company with
holdings in Northern Alberta, Canada. Information about the Corporation can be
found at

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press release and has neither approved nor
    disapproved the contents of this press release.

For further information:

For further information: Robert B. Knight, President, Chief Operating
Officer and Chief Financial Officer, Telephone: (403) 531-2088, Facsimile:
(403) 531-2099, Cell phone: (403) 804-5200, Email:

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