Marimaca Copper Corp T.MARI

Reply to Offer

[Contractor]

Consolidated Properties Responds to Letter of Intent From Aspen Properties Ltd. J. Drew Irwin, President of Consolidated Properties Ltd., a publicly traded real estate company, responded to the news release issued September 12, 2000 by Calgary-based Aspen Properties Ltd. The news release stated that Aspen "intends to make an all-cash offer to purchase approximately 30% of the outstanding Common Shares and associated rights of Consolidated Properties ... of $0.38 per share." The Aspen letter of intent to make an offer could potentially trigger the Company's Shareholder Protection Rights Plan, however the Consolidated Properties' Board of Directors has opted to defer proceeding with this option at this time. "On August 14, 2000, Consolidated announced that it was seeking offers for the Company's assets or shares, in order to enhance shareholder value," said Mr. Irwin. "Since that time, we have been in discussion with several interested parties. The proposal from Aspen will be considered, along with the other offers we have received, as we continue exploring all avenues and options open to us in our effort to enhance shareholder value. "We will continue to update shareholders on our progress," he added. Consolidated Properties Ltd. (TSE: COP) is a publicly traded, growth oriented real estate company whose Common Shares are listed on the Toronto Stock Exchange. The Company's principal business is the acquisition, development, leasing, financing and management of industrial/warehouse properties and other commercial real estate opportunities. Currently, Consolidated Properties owns and manages 3.1 million square feet of commercial property in six provinces. (c)1999 Market News Publishing Inc. All rights reserved. Toronto:[phone] Vancouver:[phone] Fax:[phone] Rapid Fax - News As It Happens - [phone]