Innovative Properties Inc. Announces Agreement With Pharmasave Drugs (Atlantic) Ltd

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Innovative Properties Inc. (the"Corporation") (TSX VENTURE:INR) announced today that its wholly owned subsidiary DIME - Dynamic Integrated Marketing Enterprises Inc. ("DIME"), has completed an agreement with Pharmasave Drugs (Atlantic) Ltd. ("Pharmasave Atlantic") of Dartmouth Nova Scotia to implement a Digital Signage network for Pharmasave Atlantic known as the "LIVE WELL WITH PHARMASAVE" network. The network will be deployed in Pharmasave Atlantic's 73 stores throughout Atlantic Canada.

"We chose DIME because of their experience supporting similar networks for other major customers and their focus on the healthcare segment in their Digital Signage products" said Greg van den Hoogen, Pharmasave Atlantic's General Manager. "DIME's network will compliment our current branding initiatives including an enhanced website and new advertising flyer and enable us to deliver valuable information to our customers."

"We're delighted that Pharmasave Atlantic has taken this leadership position in the retail pharmacy segment selecting this new media to provide healthy lifestyle messaging to its customers as part of its LIVE WELL WITH PHARMASAVE vision", commented Gordon Neal, President of INR and DIME. "Digital Signage is gaining popularity as a cost effective means of communicating your branding and messaging."

DIME will derive revenues from implementing hardware and software, network support, and content delivery for the system.

ABOUT INNOVATIVE PROPERTIES INC.

Innovative Properties Inc. is a publicly traded Canadian corporation involved in property management related services and technologies. DIME provides Digital Signage products for property management, retail, and other sectors.

ABOUT PHARMASAVE DRUGS (ATLANTIC) LTD.

Pharmasave Atlantic is a group of 73 independently owned and operated community pharmacies in the four Atlantic Provinces. Although part of a national Pharmasave brand covering 420 locations from coast to coast, Pharmasave Atlantic continues to be a major employer in this region. More than 1500 Atlantic Canadians - including hundreds of pharmacists and pharmacy technicians - are working for Pharmasave Atlantic pharmacies, helping their neighbours and customers Live Well with Pharmasave.

FORWARD LOOKING STATEMENTS

Certain information regarding the Corporation contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Corporation cautions that actual performance will be affected by a number of factors, many of which are beyond the Corporation's control, and that future events and results may vary substantially from what the Corporation currently foresees. Discussion of the various factors that may affect future results is contained in the Corporation's audited annual financial statements and management discussion and analysis for the year ended October 31, 2008 which were filed to SEDAR on February 25, 2009 and are available at www.sedar.com. The Corporation's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

Neither 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. www.innovativeproperties.com