Press Release
For Immediate Release
June 5, 1998

EXPANSION AT GRANVILLE STREET PLAZA

Today, Granville Street Plaza announced the construction of a Twenty-two Thousand Square Foot (22,000 sq. ft.) addition to its successful retail centre on Granville Street in Summerside. Tim Banks, President of the A.P.M. Group, owners of the Plaza, stated: "There continues to be opportunity in Summerside to attract strong retail tenants to good locations with the right format and amenities. The retail industry momentum has certainly moved to strip and box developments over traditional indoor malls.

The success of Power Centres, in areas such as Moncton and Halifax, have continued to be the trend setters in the retail industry and there are many good reasons why Summerside and the Granville Street Plaza are ready for these opportunities." The expansion will bring the Plaza to over 125,000 sq. ft. of retail space, offering consumers in Summerside even more choices to Shop On Island. Mr. Banks stated that, "A.P.M. is working hard to bring other major retailers to this Centre, through our valued relationships with retailers gained in similar centres our company has developed throughout Atlantic Canada." Construction is scheduled to start July 1, 1998 and already 60% of the space is leased with new tenant occupancies beginning in mid-September.