Marc Muzzo Reports Securities Ownership in Delavaco Residential Properties Corp.

NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES 

Marc Muzzo announced today he was issued and has acquired control of, directly
and indirectly, an aggregate of 6,268,218 common shares of Delavaco Residential
Properties Corp. ("Delavaco") (TSX VENTURE:DVO.U) at a deemed price per share of
US$1.15 in connection with the previously announced business combination of
Delavaco Properties Inc. and Sereno Capital Corporation.


As a result of the business combination, Mr. Muzzo collectively owns or
controls, directly or indirectly, an aggregate of 6,268,218 common shares, and
controls right to acquire an additional 314,000 common shares upon the exercise
of 314,000 common share purchase warrants. Such securities represent
approximately 11.95% of Delavaco's issued and outstanding common shares (or
approximately 12.48% on a partially diluted basis, assuming conversion of Mr.
Muzzo's warrants). 


The securities are held for investment purposes, and Mr. Muzzo may acquire
additional securities, or dispose of his holdings of securities as investment
conditions warrant. 


Delavaco is listed on the TSX Venture Exchange under the symbol "DVO.U". The
head office of Delavaco is located at 130 King Street West, Suite 2210, Toronto
Ontario M5X 1A9.


FOR FURTHER INFORMATION PLEASE CONTACT: 
The Delavaco Group
Lisa-Marie Iannitelli
[phone]
[e-mail]