Jannock Properties Limited Reports June 30, 2006 Results

Jannock Properties Limited (TSX VENTURE: JPL.UN) today reported a net loss of $12,000 ($0.00 per share) for the Second Quarter of 2006 compared with earnings of $73,000 ($0.00 per share) for the same period in 2005.

Real Estate

There were no repayments of mortgages receivable during the Second Quarter of 2006 however all interest payments have been received when due.

The outstanding balance for the two remaining mortgages is $3,670,000 with repayments due in 2007, or earlier if the purchasers make partial discharges in order to commence construction activities.

Cash Flows from Operations

Cash provided by operating activities in the Second Quarter of this year amounted to $56,000 compared to $4,399,000 for the same period last year. The major differences are due to:

- Cash receipts for the Second Quarter this year were $148,000 and were primarily interest received on outstanding mortgage receivables and on cash surpluses. This compares with $4,807,000 for the Second Quarter of last year, which included repayments of mortgages receivable of $4,658,000 and interest of $149,000.

- Cash payments for the Second Quarter this year were $92,000 and were mainly administrative costs. In the same period last year cash payments were $408,000 and included $322,000 for expenditures on land development.

Jancor Companies, Inc.

Operating results in the Second Quarter continued to show improvement from last year primarily due to improved sales volumes. Resin costs remain high but are showing some signs of softening. Debt levels dropped as borrowings passed the seasonal peak.

Jancor expects to show significant improvement in its results in 2006, providing that there are not any unusual weather conditions such as last year's major hurricanes.

Corporate Items

In the Second Quarter of this year administrative costs of $110,000 were only slightly lower than in the same period last year due to some provisions for one-time costs.

Effective July 1, 2006 the Corporation has appointed Equity Transfer & Trust Company as its transfer agent. It is expected that this change will result in a significant cost saving in the future. A cash distribution equivalent to $0.05 per Unit was paid on June 16, 2006 through the redemption of 5 of the Class A Special shares that were included in each unit. Currently each Unit consists of one Class B common share and 70 Class A special shares.

The Corporation's Annual General Meeting was held in Toronto on May 10, 2006. At this meeting shareholders approved the re-election of J. Lorne Braithwaite, Ian C.B. Currie, Robert W. Korthals and David P. Smith as directors of the Corporation and the re-appointment of PricewaterhouseCoopers LLP as auditors of the Corporation.

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).

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.

NOTICE

The accompanying interim unaudited financial statements have not been reviewed by the Company's auditors.