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Press release from CNW Group

Mainstreet regretfully announces the sudden passing of its Board Chair

Monday, February 07, 2011

Mainstreet regretfully announces the sudden passing of its Board Chair19:00 EST Monday, February 07, 2011CALGARY, Feb. 7 /CNW/ - With tremendous sadness, Mainstreet Equity Corp. mourns the passing of Mr. Larry G. Tapp, Chairman of the Board of Directors.An international CEO, innovative educator and sportsman, Mr. Tapp was Dean of the Richard Ivey School of Business at the University of Western Ontario from 1995 to 2003, when he retired as Professor Emeritus. Under his leadership, the Richard Ivey School of Business expanded into Asia with the founding of a Hong Kong campus. Mr. Tapp also led one of the world's premier packaging organizations in North America and Europe, earning recognition as an innovative leader skilled in initiating change, improving performance and restructuring through strategic cost reduction and operational streamlining.Mr. Tapp brought these same talents to bear on his role as Mainstreet Equity Corp.'s Chairman of the Board - a position he held since January 2007."We cannot overstate Larry's contributions to Mainstreet's growth and success during his tenure as Board Chair," said Bob Dhillon, Mainstreet's President & CEO. "He was a staunch supporter of Mainstreet's vision, and he helped the company pursue it with great enthusiasm and unmatched business insights. His contributions to our company and our culture will be deeply missed. All of us at Mainstreet Equity Corp. express our sincere condolences to the Tapp family."About MainstreetMainstreet is a Calgary-based, growth-oriented real estate corporation focused on the acquisition, redevelopment, repositioning, and asset and property management of mid-market apartment buildings. The Corporation currently owns and operates residential rental units including apartments and townhouses in Vancouver/Lower Mainland, Calgary, Edmonton, Saskatoon and Greater Toronto Area. Mainstreet's common shares are listed on the Toronto Stock Exchange under the symbol MEQ.Additional information about Mainstreet is available at www.mainst.biz and www.sedar.com.For further information: Bob Dhillon, President and CEO - (403) 215-6070