GRANVILLE ANNOUNCES SUBSIDIARY COMPANY CONSTRUCTION LOAN REFINANCING

EDMONTON, Oct. 29 /CNW/ -- 
EDMONTON, Oct. 29 /CNW/ - Granville Pacific Capital Corporation
 ("Granville") (TSX Venture:  GE) announces that a subsidiary of the
 Company, Evergreen Cottages Corp, has signed a commitment letter to
 refinance the Company's construction debt.


The Company has obtained and signed a commitment letter on October 22,
 2010 entering into a lending agreement for a 5 year $11.325 million
 loan from Concentra Financial with a fixed interest of 4.9% with a
 targeted completion date of November 4, 2010.


Hendrik Van Ryk Jr, CEO comments, "This transaction represents the
 position of the Company as we now enjoy strong operations and cash
 flows resulting from numerous changes and positioning with our
 partners."


Granville is involved in the business of the acquisition and operation
 of senior citizens' lodging and care facilities and mental health
 facilities.


The TSX Venture Exchange does not accept responsibility for the adequacy
 or accuracy of this release. 



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pbcontact the following officer of Granville:/bbr/ bAndre Van Ryk/bbr/ Chief Financial Officerbr/ Telephone:[phone]br/ Facsimile: [phone]/p

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