TORONTO, April 26 /CNW/ - Gulf & Pacific Equities Corp (TSX-V: GUF) is pleased to announce the appointment of Ian A. MacVicar to the Board of Directors, at a meeting of the Board on April 25, 2006. Mr. MacVicar is a founding partner of CastleHill Ventures, with extensive involvement in all aspects of corporate, investment, venture capital and merchant banking businesses in Canada during his 25 year career. He is a former co-CEO and CFO of a national retail company. Mr. MacVicar is a Chartered Accountant, and has completed the Directors Education Program of the Institute of Corporate Directors. In addition, in accordance with the Corporation's stock option plan, by a resolution of the board of directors at the same meeting, the Board has approved the grant of options totaling 50,000 common shares of the Corporation at an exercise price of $0.305 per share. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release. %SEDAR: 00010381E