Capital Properties, Inc. Announces Second Quarter 2015 Results

East Providence, Rhode Island: Today, Capital Properties, Inc. (OTCQX: CPTP) reported net
income of $574,000 and $974,000 for the three and six months ended June 30, 2015. Based upon
6,599,912 shares outstanding, the basic income per common share for the same periods was $.09
and $.15, respectively. For the three and six months ended June 30, 2014, the Company had
reported net income of $450,000 and $527,000, respectively. Based upon 6,599,912, the basic
income per common share for the same periods in 2014 was $.07 and $.08, respectively.

For the three and six months ended June 30, 2015, leasing revenue increased $46,000 and $117,000,
respectively, from 2014 due to scheduled increases in rents under both short-term and long-term
land leases, offset in part by a decrease in 2015 in the percentage rent under the lease with Lamar
Outdoor Advertising, LLC. For the three and six months ended June 30, 2015, leasing expense
increased $20,000 and $19,000, respectively, from 2014 due to an increase in repairs and
maintenance at the Steeple Street Building.

For the three months and six ended June 30, 2015, petroleum storage facility revenue increased
$148,000 and $451,000, respectively, from 2014 due to Sprague Operating Resources LLC leasing
the entire Facility. Under a lease that terminated on April 30, 2014, the Company had leased to
Atlantic Trading & Marketing, Inc., a portion of the storage capacity of the Facility. For the three
months ended June 30, 2015, petroleum storage facility expense decreased $22,000 from 2014 due
to a decrease in insurance, offset in part by an increase in payroll and related costs. For the six
months ended June 30, 2015, petroleum storage facility expense decreased $176,000 from 2014 due
to a decrease in repairs and maintenance, insurance and professional fees, offset in part by an
increase in payroll and related costs.

For the three and six months ended June 30, 2015, general and administrative expense increased
$10,000 and $34,000, respectively, from 2014 due to an increase in payroll and related costs.
For the three months and six months ended June 30, 2015 and 2014, the interest expense on the
bank loan decreased $22,000 and $44,000, respectively. In May 2015, the Company prepaid
$1,000,000 on the bank loan. In June and December 2014, the Company prepaid $1,000,000 and
$1,300,000, respectively, on the bank loan. For the three months and six months ended June 30,
2015 and 2014, the interest expense on the dividend notes payable remained at the 2014 level.

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