CPI IQ Real Return ETF

Capital Properties, Inc. Announces Intercontinental Real Estate Investment Fund IV, LLC Groundbreaking EAST PROVIDENCE, R.I., May 9 /PRNewswire-FirstCall/ -- Capital Properties, Inc. (AMEX:CPI) announced that Intercontinental Real Estate Investment Fund IV, LLC ("Intercontinental") broke ground today for the construction of a 480 car underground parking structure, retail pavilion and 2 residential towers, one of which is 19 stories and the other 17 stories, on the southerly half of Parcel 2 in the Capital Center Area of Providence, Rhode Island. Intercontinental plans, when justified by market conditions, to construct an office building and/or hotel on the northerly portion of Parcel 2. This marks the second major development on our property in the Capital Center in the last 6 months. Certain written statements made in this press release may contain "forward-looking statements," which represent the Company's expectations or beliefs concerning future events. Certain risks, uncertainties and other important factors are detailed in reports filed by the Company with the Securities and Exchange Commission, including Forms 8-K, 10-KSB and 10-QSB. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Contact: Barbara J. Dreyer, Treasurer (401) 435-7171 DATASOURCE: Capital Properties, Inc. CONTACT: Barbara J. Dreyer, Treasurer of Capital Properties, Inc., +1-401-435-7171

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