General Properties Ltd. announces the passing of Mr. Arthur Smith, Director

    CALGARY, July 2 /CNW/ - General Properties Ltd. (TSX Venture Exchange:
GPL) (the "Corporation") notes with sadness that one of its directors; Mr.
Arthur Smith has passed away after a battle with cancer.
    Mr. Smith was a prominent figure in Canadian business and politics. In
additionto his successful business career, he served in all three levels of
government, continuing to serve his country with the commitment he showed
during the second world war when he was awarded the Distinguished Flying
Cross. He was a philanthropist of note participating in a large number of
charitable endeavors. He was inducted as honorary colonel of 4 Wing Cold Lake
in January of this year, a position of which he was immensely proud, and a
holder of the Order of Canada.

    Mr. Leslie Cahan, Chairman of the Corporation and long time friend of Mr.
Smith, offered the following tribute:

    "I have been very fortunate during my life, in making and keeping unusual
steadfast friends - amongst this small group was a standout pal - Arthur Smith
- a friend for over 50 years. In my lifetime, I have never met anyone who was
as devoted to serving the common good as Art. This was no common politician in
search of personal power and fame, but an unbelievably dedicated individual.
    While Art was a very successful business executive, his interest were not
in amassing a personal fortune but rather in creating projects and generating
support from all levels then bringing them to life for the benefit of a host
of lucky people - lucky because of a man whose sole focus was to simply do
some good.
    Arthur agreed to serve on our Board of Directors while shunning all other
companies that approached him in these last few years. He continued serving on
our board after his diagnosis out of honor and loyalty. For that I am grateful
and proud to have had him serve. May he rest in peace."

    The Corporation intends to commence a search for a suitable replacement
director in due course.

    The Corporation is a mining exploration and development company with
holdings in northern Alberta, Canada, and a past producing gold mine
acquisition under contract, subject to regulatory and other approvals.
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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