Jannock Properties Limited Reports Closure of Jancor Companies, Inc.

  Jannock Properties Limited (TSX VENTURE: JPL.UN) today reported that Jancor Companies, Inc. (Jancor) had ceased operations effective Saturday October 25th, 2008. Jannock Properties sold all of its equity interest in Jancor in 2001 in return for participation rights relating to payments received by Jancor's subordinated lender and to proceeds received by shareholders from a sale of Jancor.

Jannock Properties had previously disclosed that it was unlikely that it would receive any recoveries from its participation rights in the foreseeable future. The closure of the Jancor operations means that there is very little likelihood of ever receiving any more proceeds under the participation agreements.

As previously advised Jannock Properties is investigating methods for maximizing shareholder values.

The mandate for the Company is to dispose of its assets in a manner that maximizes value and distributes the net proceeds realized from those assets to shareholders in a timely fashion.

The Company's common shares are listed on the Canadian Venture Exchange (trading symbol: JPL.UN). Currently each Unit consists of one Class B common share and 65 Class A special shares.

Forward-looking statements contained in this news release involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include local real estate markets, zoning applications, changes in interest rates and general economic conditions. In addition, there are risk factors described from time to time in the reports and disclosure documents filed by Jannock Properties Limited with Canadian and U.S. securities regulatory agencies and commissions.

Contacts: Jannock Properties Limited Brian Jamieson [phone] Email: [e-mail]