Morguard Corporation increases ownership position in Revenue Properties Company Limited

    Stock Symbol: (MRC TSX)

    TORONTO, Sept. 19 /CNW/ - Morguard Corporation ("Morguard") today
announced that it has acquired an additional 520,200 common shares in the
capital of Revenue Properties Company Limited ("RPCL"), or approximately 4.8%
of RPCL. Following the completion of these purchases, all of which occurred
through the facilities of the Toronto Stock Exchange, Morguard, and its
wholly-owned subsidiary 3391361 Canada Inc., will own 7,856,496 common shares
of RPCL, representing approximately 72.6% of the issued and outstanding common
shares of RPCL.

    Morguard Corporation is a major Canadian real estate and property
management company. It has extensive retail, office, industrial and
residential holdings through its investments in Morguard REIT and Revenue
Properties Company Limited. Morguard provides management services to
institutional and other investors for commercial and residential real estate
through Morguard Investments Limited and Morguard Residential.

    %SEDAR: 00004260E

For further information:

For further information: Paul Miatello, Chief Financial Officer, Tel:
(905) 281-5943, Fax: (905) 281-5890, e-mail:; Beverley
G. Flynn, Secretary, Tel: (905) 281-5923, Fax: (905) 281-5890, e-mail:

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