General Properties Ltd. announces the grant of stock options

    CALGARY, Dec. 28 /CNW/ - General Properties Ltd. (TSX Venture Exchange:
GPL) (the "Corporation") announces the grant of stock options to acquire an
aggregate of 875,000 common shares of the Corporation at an exercise price of
$0.25 per share, such options to expire five 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                     225,000
          Leslie Cahan                      225,000
          Peter Holmes                      225,000
          Robert Peterson                    50,000
          Morley Katz                        50,000
          John Holmes                        50,000
          Art Smith                          50,000

    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, 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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