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Opening comments:  More at the end.

    Short and sweet but what is not said will raise more questions.

For Immediate Release

January 24, 2006

Ontario Realty Corporation (ORC) Announces Departure of President and CEO

Toronto--Tony Miele has advised the ORC Board of Directors he plans to leave his position as President and CEO of the Corporation, Carol Gray, Board Chair announced today.

"Mr. Miele, who has been in this position since April 1999, has decided to pursue other opportunities, said Ms Gray. "Mr. Miele brought energetic leadership to the ORC during his tenure and the Corporation's Board of Directors and the Government wish him well in his future endeavours."

The ORC manages the Ontario Government's large real estate portfolio, providing services in Marketing and Sales, Leasing, Property Management, Project Management and Strategic Planning.

Mr. Miele will be leaving the corporation effective February 7, 2006. Pending recruitment of a new President and CEO, Greg Dadd, Senior Vice-President, Property Management and Client Service will assume the position of acting President and CEO.


Jim Butticci
Manager-Government Relations
Ontario Realty Corporation
(416) 314-2351


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