Boardwalk to Delist from the New York Stock Exchange

Boardwalk to Delist from the New York Stock Exchange 


CALGARY, Feb. 19  /PRNewswire-FirstCall/ -- Boardwalk Equities Inc. (BEI- TSX;
NYSE)

The previously announced voluntary de-listing of the Common Shares from the New
York Stock Exchange is expectedto be effective prior to the opening of the
market on February 23, 2004. It is therefore anticipated that trading in the
Common Shares on the NYSE will cease at the close of the market on Friday,
February 20, 2004. The common shares will continue to betraded on the Toronto
Stock Exchange under the symbol "BEI".

The Board of Directors of BEI, at a meeting held on January 8, 2004 resolved to
apply to de-list the common shares from the New York Stock Exchange. Recent
regulatory changes in the United States will significantly increase the cost of
complying with US securities laws. Although the directors believe that benefits
are derived from the Corporation's listing on the prestigious NYSE, the Board
feels that these benefits are outweighed by the significantly increased
compliance costs of such listing. It should also be noted that the majority of
the trades in the Corporation's shares are completed through the facilities of
the Toronto Stock Exchange and accordingly a liquid market for the shares of the
Corporation will continue to exist.

Corporate Profile

Boardwalk Equities Inc. is Canada's largest owner/operator of multi- family
rental communities. Boardwalk currently owns and operates in excess of 250
properties with over 31,400 units totaling approximately 26 million net rentable
square feet. The Company's portfolio is concentrated in the provinces of
Alberta, Saskatchewan, Ontario and Quebec. Boardwalk is headquartered in Calgary
and its shares are listed on both the Toronto Stock Exchange and the New York
Stock Exchange under the symbol BEI. The Company has a total market
capitalization of approximately $2.3 billion. 

DATASOURCE: Boardwalk Equities Inc.



CONTACT: Boardwalk Equities Inc., Sam Kolias, President and CEO,

403-531-9255; Roberto Geremia, Senior Vice President, Finance and Chief

Financial Officer, 403-531-9255; Mike Hough, Senior Vice President,

416-364-0849; Paul Moon, Director of Corporate Communications, 403-531-9255

Copyright