CALGARY, Nov. 3 /CNW/ - Mainstreet Equity Corp. ("Mainstreet" or the
"Corporation") (TSX:MEQ) announces that its board of directors has approved a
temporary waiver of its blackout policy that applies to directors, officers,
employees and other parties. Under the temporary waiver, directors, officers,
employees and others will be permitted to purchase securities of Mainstreet,
provided they are not in possession of material undisclosed information
relating to Mainstreet. (The board has taken this step in light of conditions
in the financial and stock markets, which have resulted in what Mainstreet
believes is a significant and unwarranted drop in the trading price of its
shares.)
    The blackout policy restricts the ability of Mainstreet's directors,
officers, employees and others to purchase or sell securities of Mainstreet
during prescribed periods. The temporary waiver of the blackout is effective
for a year unless earlier reinstated by the board. Mainstreet's directors,
officers, employees and others remain unable to purchase or sell securities of
Mainstreet if they are in possession of material undisclosed information
relating to Mainstreet.

    About Mainstreet

    Established in 1997, Mainstreet 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 (Surrey), Calgary,
Edmonton, Saskatoon and Greater Toronto Area.

    Cautionary Statement Regarding Forward-Looking Statements

    This news release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
When used herein, words such as "intended" and similar expressions are
intended to identify forward-looking statements. Forward-looking statements
are based on assumptions by and information available to the Corporation.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Actual results may differ materially from those currently
anticipated. The forward-looking statements contained herein are expressed
qualified by this cautionary statement.