Imperial Equities Inc V.IEI

News Release - April 13, 1999

[PattiM]

FOR IMMEDIATE RELEASE - April 13, 1999 New Industrial Acquisition Boosts Imperial Portfolio EDMONTON, ALBERTA - Imperial Equities Inc. (ASE:IEI) is pleased to announce that it has made another addition to its portfolio with the acquisition of an industrial property in Edmonton. The new property is the third acquisition announced by Imperial in the four weeks since the company completed its Major Transaction (March 1999). The multi-tenant, 2.39 acre, industrial property contains one existing structure on-site with 38,000 square feet of leaseable space. The property is located at 5604 - 76 Avenue and it backs on to the Sherwood Park Freeway. It is part of the Davies Industrial East neighbourhood, one of Edmonton's leading industrial market areas. The appraised value of the new property is $1,175,000.00. No new shares will be issued in conjunction with this transaction. The deal will be completed through existing cash flow and conventional mortgage financing. "This is another terrific deal for our shareholders and exactly the type of acquisition that we believe will bring the greatest value to our portfolio," said Sine Chadi, president and chief executive officer of Imperial Equities. "The property is in an excellent location, one that historically has had very low vacancy rates (less than 3%) and already has a strong tenant base. I am confident that this will be a strong revenue contributor to Imperial over the long-term," Chadi said. - end - About Imperial Equities Inc.: Imperial Equities Inc. is based in Edmonton, Alberta. The company is dedicated to aggressive growth through the acquisition and development of commercial and industrial real estate properties in its targeted Edmonton and Alberta markets. Imperial Equities Inc. began trading on the Alberta Stock Exchange, under the symbol "IEI", on November 9, 1998. On March 11, 1999, the Alberta Stock Exchange announced that Imperial Equities had completed its Major Transaction, a deal that involved three Edmonton commercial properties with an aggregate appraised value of $4 million. More information about Imperial Equities is available by calling [phone] or e-mailing the company at [e-mail] - 30 - The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.