CPI IQ Real Return ETF

EAST PROVIDENCE, R.I., Oct. 26 /PRNewswire-FirstCall/ -- At its regular quarterly meeting on October 25, 2005, the Board of Directors of Capital Properties, Inc. (AMEX:CPI) elected Dr. Roy J. Nirschel, President of Roger Williams University in Bristol, Rhode Island, as director of the Company to fulfill the unexpired term of Harold J. Harris, who passed away in September 2005. Mr. Harris had served as director of the Company since 1995. Dr. Nirschel holds a Bachelor of Science degree from Southern Connecticut University and a Master of Public Administration and Doctorate in Higher Education Administration from the University of Miami. Prior to becoming President of Roger Williams University in 2001, he was President of Newbury College. The Board of Directors also declared a dividend of $.03 per share on the Company's outstanding Class A common stock payable on November 22, 2005 to shareholders of record as of the close of business on November 8, 2005. 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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