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Capital Properties, Inc. Declares Dividend EAST PROVIDENCE, R.I., April 28 /PRNewswire-FirstCall/ -- At its regular quarterly meeting on April 27, 2004, the Board of Directors of Capital Properties, Inc. declared a dividend of $.03 per share on the Company's outstanding Class A and Class B common stock payable on May 19, 2004 to shareholders of record as of the close of business on May 5, 2004. 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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