Gulf & Pacific Equities Corp. Updates on Landlord's Work and Construction Financing for 2014

NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISTRIBUTION INTO THE UNITED
STATES


Gulf & Pacific Equities Corp. (the "Company") (TSX VENTURE:GUF) an established
company focused on the acquisition, management and development of anchored
shopping centres in Western Canada, is pleased to report that the 2014
landlord's work has commenced at its flagship Tri-City Mall in Cold Lake,
Alberta.


The Company anticipates that 2014 will be another busy year as we prepare the
premises for a number of new tenants with scheduled openings in 2014. As
announced in 2013, Warehouse One signed a new lease for 4,196 sq. ft. in the
mall with an anticipated opening in April 2014.


A further 21,000 sq. ft. of landlord's work is scheduled for 2014 with potential
for another 15,000 sq. ft. upon completion of lease offers from national
tenants. When fully completed in 2014, the total landlord's work will be over
40,000 sq. ft. of newly renovated fashion based retail space.


As well, the Company anticipates that landlord's work will start in 2014 on the
St Paul Shopping Centre for a total of 11,000 and possibly up to 36,000 sq. ft. 


In 2013, the Company completed a total 36,000 sq. ft., of landlord's work for
its new tenants Dollar Tree in St. Paul Shopping Centre, and Dollar Tree,
Sportchek and Ardene in Tri-City Mall.


To finance the landlord's work, the Company has signed a revolving unsecured
loan agreement with Ceyx Properties Ltd. (the "Ceyx") for up to $5 million at an
annual interest rate of 6% with no fixed terms for repayment. Ceyx and the
Company are related by virtue of the fact that they have the same President.
Interest will be accrued and non-compounding. As of today, the Company has drawn
down a total of $2,500,000 on the revolving unsecured loan. 


The Company anticipates refinancing of the properties once the redevelopments
are completed at which time the revolving unsecured loan will be retired.


About Gulf & Pacific Equities Corp.

Gulf & Pacific Equities Corp. was incorporated under the laws of the Province of
Alberta on April 8, 1998 and thereafter completed a public offering of common
shares by prospectus dated June 26, 1998 (TSX VENTURE:GUF). 


The Company acquires, manages and develops anchored shopping malls in rural
centres in Western Canada, in particular Alberta. Gulf & Pacific targets
smaller, but rapidly growing hub communities that have hospital, high school,
police station and retail/service infrastructure. Management has consistently
reinvested cash flow to improve and grow its portfolio of income properties. 


Gulf & Pacific Equities Corp. currently owns four, well-located retail assets
located in Three Hills, St. Paul and Cold Lake Alberta, as well as in Merritt
B.C.. 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Cautionary
Statements


This news release contains "forward-looking statements", within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and similar
Canadian legislation, concerning the business, operations and financial
performance and condition of Gulf & Pacific Equities. Forward-looking statements
include, but are not limited to, statements with respect to the benefits of the
offering and option transaction. Generally, these forward-looking statements can
be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are based on the opinions
and estimates of management as of the date such statements are made, and they
are subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of Gulf
& Pacific Equities to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to risks related to:
economic conditions in Western Canada, interest rates, raising less than the
required capital; not realizing on the anticipated benefits from the transaction
or not realizing on such anticipated benefits within the expected time frame;
and other risks of the real estate industry. Although management of Gulf &
Pacific Equities has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. Gulf &
Pacific Equities does not undertake to update any forward-looking statements
that are incorporated by reference herein, except in accordance with applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gulf & Pacific Equities Corp.
Mr. Anthony Cohen
President and Chief Executive Officer
416-968-3337
416-968-3339 (FAX)
[e-mail]
www.gpequities.com