Plazacorp announces death of Chief Financial Officer

May 11, 2010

FREDERICTON, May 11 /CNW/ - Plazacorp Retail Properties Ltd. (PLZ: TSX Venture Exchange) regrets to announce the unexpected passing of its Chief Financial Officer, Peter Sheehan. The company wishes to express its sincere condolences to his family and friends.

Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip plazas throughout the Atlantic Provinces, Qu├ębec and Ontario. Plazacorp, as at May 11, 2010 now owns interests in 101 properties comprising 4.5 million square feet of retail real estate.

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

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For further information: on Plazacorp, visit our website at www.plaza.ca or contact: Earl Brewer, Chairman; Kim Sharpe, Director of Business Development, (506) 451-1826