Consolidated Properties Ltd. Commences Trading of Consolidated Shares

April 14, 2004

CALGARY– R. Scott Hutcheson today announced that the Toronto Stock Exchange (“TSX”) has confirmed that the common shares of the company will commence trading on the Exchange on a consolidated basis at the opening of trading on Thursday April 15, 2004 .

This consolidation reduces the share trading float from 95,023,226 to 10,558,136 common shares and will result in a share float comparable to corporations of similar size.

Consolidated Properties Ltd. (TSX: COP) is a publicly traded, real estate company whose common shares are listed on the Toronto Stock Exchange.

For further information, contact:

Mr. R. Scott Hutcheson

President and CEO

Tel: (403) 216-6807

Fax: (403) 216-2661

Email: cop@consolidated.ca