Imperial Equities Inc. appoints Dr. Dennis Modry to Board of Directors

    EDMONTON, June 3 /CNW/ - Mr. Sine Chadi, Chairman of the Board of
Imperial Equities Inc. (TSX-V:IEI) is pleased to announce that Dr. Dennis
Modry has been appointed a director of Imperial Equities Inc.
    Dr. Modry implemented Western Canada's first heart and lung
transplantation program. He performed the first heart transplant in July 1985
and the first combined transplant of the heart with both lungs in August 1986.
The heart and heart/lung transplantation program has now become the largest
and most successful in Canada and one of the largest in North America. The
success of the heart and lung transplant program set the stage for the
implementation of the liver transplantation program which facilitated the
subsequent development of the renowned islet cell transplant program.
    Dr. Dennis Modry, BSc, MD, FRCS(C), FACCP, FACS, received his B.Sc. and
M.D. Degrees from the University of Alberta and his M.Sc. Degree and training
in General Surgery and Cardiovascular and Thoracic Surgery at McGill
University. Before returning back to Alberta, he further trained in
transplantation immunology, heart and lung transplantation and cardiovascular
surgery at Stanford University Medical Centre.
    "We are extremely pleased to have someone with Dr. Modry's experience on
the Board of Imperial," said Sine Chadi. "Imperial Distributors Canada Inc.,
our pharmaceutical distribution business, has experienced rapid growth during
the past 24 months and we certainly welcome his medical expertise. He is also
very involved in many community endeavors and serves on numerous hospital
committees. Dr. Modry will be a tremendous addition to the Imperial Board".
    Dr. Modry's appointment succeeds Mr. Bill Smith who recently resigned
from the Board to concentrate on his personal business interests. The Board
wishes Mr. Smith great success in his future endeavors and thanks him for his
contributions to the Board. Dr. Modry's appointment has been approved by the
Board on May 21, 2008 and is subject to regulatory approval.

    About Imperial Equities Inc.:

    Imperial Equities Inc. is based in Edmonton, Alberta. A diversified
company anchored by commercial and industrial real estate properties in its
targeted Edmonton and Alberta markets. Imperial also distributes
pharmaceutical products to the institutional and retail customers through its
wholly owned subsidiary, Imperial Distributors Canada Inc. Additional
information is available at:
    Imperial's common shares are listed on the TSX Venture Exchange under the
symbol IEI.

    The Toronto Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    %SEDAR: 00010417E

For further information:

For further information: Sine Chadi, CEO, Imperial Equities Inc., Phone:
(780) 424-7227, Email:

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