~~Table~~SECURITIES ofAND ~~Contents~~EXCHANGE COMMISSION WASHINGTON, DC 20549

~~SECURITIES~~Form ~~AND EXCHANGE COMMISSION~~6-K ~~WASHINGTON, D.C. 20549~~

~~Form 6~~REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-K16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

~~Report~~For ~~of Foreign Private IssuerPursuant to Rule 13a-16 or 15d-16 of~~ the ~~Securities~~ ~~Exchange~~month ~~Act~~ of ~~1934~~October, 2003

~~For~~Boardwalk ~~the~~Equities ~~month of August, 2003~~Inc.

(Translation of registrant’s name into English)

~~Boardwalk~~200, ~~Equities~~1501 ~~Inc.~~– 1st Street SW, Calgary, Alberta, Canada

(Address of principal executive offices)

~~Suite 200,~~ Indicate ~~1501~~by –check 1mark ~~Street~~whether ~~S.W.~~the registrant files or will file annual ~~Calgary,~~reports ~~Alberta,~~under ~~Canada~~cover ~~T2R~~of ~~0W1~~Form 20-F or Form 40-F:

~~Commission~~Form ~~File~~20-F ~~Number:~~o 1Form 40-~~15162~~ F þ

[Indicate by check mark whether by furnishing the information contained in this Form, the registrant ~~files~~is oralso ~~will~~thereby ~~file~~furnishing ~~annual~~the information to the ~~reports~~Commission ~~under~~pursuant ~~cover~~to ~~Form~~Rule 2012g3-F2(b) orunder ~~Form 40-F~~the Securities Exchange Act of 1934.]

~~Form~~Yes ~~20-F~~ o ~~Form~~No ~~40-F~~ þ

~~[Indicate~~If by“ ~~check~~Yes” ~~mark~~is ~~whether~~marked, ~~the~~indicate ~~registrant~~below ~~by furnishing~~ the ~~information~~ ~~contained~~file innumber ~~this~~assigned ~~Form~~to ~~is also thereby furnishing~~ the ~~information~~ toregistrant ~~the~~in ~~Commission~~connection ~~pursuant~~with to Rule 12g3-2(b): ~~under the Securities Exchange Act~~82- ~~of 1934.]~~

~~Yes o No þ~~SIGNATURE

~~[If~~Pursuant ~~“Yes”~~to isthe ~~marked,~~requirements ~~indicate~~of ~~below~~ the ~~file~~Securities ~~number~~Exchange ~~assigned~~Act toof 1934, the registrant, inBoardwalk ~~connection~~Equities ~~with~~Inc, ~~Rule 12g3-2(b): ]~~has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

~~TABLE~~Date: OFOctober ~~CONTENTS~~27, 2003 Boardwalk Equities Inc.

~~DOCUMENTS FURNISHED HEREUNDER~~By: /s/ ~~SIGNATURES~~Paul ~~Changes in Capital Structure of Listed Companies Exercise Recap Report with Taxable Comp. Cancellation Recap Report Form 45-102F3 PRESS RELEASE NEWS RELEASE~~Moon

Paul Moon
Director of Corporate Communications

~~Table~~Boardwalk ofEquities ~~Contents~~Inc. Suite 200, 1501 – 1 Street S.W. Calgary, Alberta T2R 0W1 Phone: (403) 531-9255 Fax: (403) 531-9565 Website: www.bwalk.com

~~DOCUMENTS~~October 27, ~~FURNISHED HEREUNDER:~~2003

1.NEWS ~~Toronto~~RELEASE ~~Stock~~FOR ~~Exchange~~IMMEDIATE Changes in Capital Structure of Listed Companies (Employee Stock Options and Stock Purchase Plans, Options for Services and Related Matters), together with detailed listing of specific options issued, cancelled or exercised, with respect to optionholders of the registrant for the month of August, 2003. 2. Form 45-102F3 – Revised Notice of Intention to Distribute Securities and Accompanying Declaration Pursuant to Section 2.8 of Multi-Lateral Instrument 45-102 – Resale of Securities, dated August 19, 2003. 3. Press Release dated August 18, 2003 announcing the intention of the Corporation to make a normal course issuer bid. 4. Press Release dated August 21, 2003 announcing acceptance by the TSX of the Corporation’s notice of intention to make a normal course issuer bid.DISTRIBUTION

~~SIGNATURES~~RE: Teleconference on Fiscal 2003 Third Quarter Financial Results

~~Pursuant~~Boardwalk toEquities ~~the~~Inc. ~~requirements~~(“BEI” of– NYSE, TSE) announces that the ~~Securities~~Company’s fiscal ~~Exchange~~2003 ~~Act~~third quarter financial results will be released the morning of Monday ~~1934~~November 17th, 2003. We invite you to participate in the ~~registrant~~teleconference ~~has~~that ~~duly~~will ~~caused~~be ~~this~~held ~~report~~to discuss these results that same morning at 11:00 am EST. Senior management will speak to the third quarter financial results and provide a corporate update. Presentation materials will be ~~signed~~made available on ~~its~~the ~~behalf~~INVESTOR bysection ~~the undersigned,~~of ~~thereunto~~our ~~duly~~website ~~authorized~~(www.bwalk.com) prior to the call.

		BOARDWALK EQUITIES INC.
September 12, 2003		By:		(Signed) “Roberto Geremia” Roberto Geremia Vice-President Finance and Chief Financial Officer

Participation & Registration: Please RSVP to Investor Relations at 403-531-9255 or by email to investor@bwalk.com.

~~Table~~Teleconference: ofThe ~~Contents~~telephone numbers for the conference are: 416-640-4127 (within Toronto) or toll-free 1-800-814-4861 (outside Toronto).

~~CHANGES~~Webcast: INInvestors ~~CAPITAL~~will ~~STRUCTURE~~be OFable ~~LISTED~~to ~~COMPANIES~~listen ~~Employee~~to ~~Stock~~the ~~Options~~call and ~~Stock~~view ~~Purchase~~our ~~Plans,~~slide presentation ~~Options~~over the Internet by visiting http://investor.bwalk.com 15 min. prior to the start of the call. An information page will be provided for ~~Services~~any software needed and ~~Related~~system ~~Matters~~requirements. ~~TSE~~The ~~Toronto~~live ~~Stock~~audiocast ~~Exchange~~will also be available at http://www.newswire.ca/webcast/viewEventCNW.html?eventID=676060.

Company Name:		Boardwalk Equities Inc.
Stock Symbol:		BEI
For Month Ending:		August 31, 2003
Date Prepared:		September 11, 2003
Company Contact:		Stuart M. Olley

Replay: An audio recording of the teleconference will be available approximately one hour after the call until 11:59pm EST on November 24th, 2003. You can access it by dialing 416-640-1917 and using the passcode 21024037#. An audio archive will also be available on our Investor site (http://investor.bwalk.com) approximately two hours after the conference call.

Outstanding Stock Options Summary

Stock Options Outstanding – Opening Balance

2,917,233

Options Granted:

(Add)

Date of Grant

Name

Expiry Date

Price

Number

None

Subtotal

Options Exercised:

(Subtract)

Date

Name

Date of Grant

Price

Number

As per attached

27,200

Subtotal

Options Cancelled:

(Subtract)

Date

Name

Date of Grant

Price

Number

As per attached

28,000

Subtotal

Closing Stock Option Plan Balance

2,862,033

Corporate Profile

~~Shares~~Boardwalk ~~Reserved~~Equities ~~for~~Inc. ~~Share~~is ~~Compensation~~Canada’s ~~Arrangements~~largest ~~Opening~~owner/operator ~~Reserve~~of ~~Balance~~multi-family rental ~~Additional~~communities. ~~Listing~~Boardwalk ~~Under~~currently ~~Plan~~owns ~~(Add)~~in excess of 250 properties with over 31,200 units totalling approximately 26 million net rentable square feet. The company’s portfolio is concentrated in the provinces of Alberta, Saskatchewan, Ontario and Quebec. Boardwalk is headquartered in Calgary and its shares are listed on both the Toronto Stock ~~Options~~Exchange ~~Exercised~~and ~~(Subtract)~~the ~~Closing~~New ~~Reserve~~York Stock ~~Balance~~Exchange and trade under the symbol BEI. The Company has a total market capitalization of approximately $2.1 billion.

Issued and Outstanding Share Capital Summary
Reason for Increase or Reduction
Issued and Outstanding – Opening Balance							50,448,114
Stock Options Exercised							27,200
Share Purchase Plan
Warrants — No Warrants held in Calgary
Private Placement
Issuer Bid Cancellation
Closing Issued Capital Balance							50,475,314

For further information regarding Boardwalk, contact Paul Moon, Director of Corporate Communications at (403) 206-6808.

~~The~~Recent ~~Exchange~~investor ~~Tower 130~~information ~~King~~can ~~Street~~be ~~West,~~found ~~3rd~~on ~~Floor Toronto,~~the ~~Ontario M5X~~Internet ~~1J2 Fax (416) 947-4547~~at http://investor.bwalk.com/.

Exercise Recap Report with Taxable Comp. Boardwalk Equities Inc.

From 8/1/2003 to 8/31/2003 Entered from / / to / /

											Aggregate
Name/Optionee ID	Grant Date		Exercise Date		Options Exercised		Option Price		Exercise Price		Option Cost		Taxable Compensation
Plan: Boardwalk Equities Inc. 10 YR.
Padia P. Caponpon SSN ###-##-####		3/4/1999		8/6/2003		600	$	12.830000	$	15.340000	$	7,698.00		1,506.00
Karen J. Oosterveld SSN ###-##-####		6/20/2000		8/8/2003		600	$	12.700000	$	15.620000	$	7,620.00		1,752.00
Tammy J. Rowe SSN ###-##-####		7/7/1999		8/12/2003		2,400	$	14.960000	$	15.750000	$	35,904.00		1,896.00
Dan J. Maxwell SSN ###-##-####		4/9/1999		8/14/2003		1,600	$	12.270000	$	15.700000	$	19,632.00		5,488.00
Cory N. Chisholm SSN ###-##-####		9/3/1999		8/15/2003		3,000	$	14.050000	$	15.860000	$	42,150.00		5,430.00
Donna M. Monkhouse SSN ###-##-####		3/24/2000		8/15/2003		1,800	$	15.230000	$	15.860000	$	27,414.00		1,134.00
John VonSchleinitz SSN ###-##-####		9/3/1999		8/15/2003		6,000	$	14.050000	$	15.860000	$	84,300.00		10,860.00
Jeffrey D. Klaus SSN ###-##-####		9/3/1999		8/19/2003		1,800	$	14.050000	$	15.000000	$	25,290.00		1,710.00
Donna M. Nicolas SSN ###-##-####		3/4/1999		8/20/2003		600	$	12.830000	$	15.430000	$	7,698.00		1,560.00
Carol Brown SSN ###-##-####		3/9/1999		8/21/2003		2,800	$	12.700000	$	15.650000	$	35,560.00		8,260.00
Paul H. Moon SSN ###-##-####		3/4/1999		8/22/2003		3,000	$	12.830000	$	15.500000	$	38,490.00		8,010.00
Plan Totals						24,200						331,756.00		47,606.00

Exercise Recap Report with Taxable Comp. Boardwalk Equities Inc.

From 8/1/2003 to 8/31/2003 Entered from / / to / /

											Aggregate
Name/Optionee ID	Grant Date		Exercise Date		Options Exercised		Option Price		Exercise Price		Option Cost		Taxable Compensation
Plan: Boardwalk Equities Inc.
Lisel Carbello (505A) SSN ###-##-####		10/14/1998		8/13/2003		3,000	$	14.460000	$	15.850000	$	43,380.00		4,170.00
Plan Totals						3,000						43,380.00		4,170.00

Cancellation Recap Report Boardwalk Equities Inc.

From / / to / / Entered from 8/5/2003 to 8/5/2003

													Aggregate
Name/Optionee ID	Grant Date		Grant Type	Cancellation Date		Reason	Options Canceled		SARs Canceled		Option Price		Option Price
Plan: Boardwalk Equities Inc.
Suzan Z. BurticSSN ###-##-####		8/5/1998	Non-Qualified		8/5/2003	options expired8/5/2003		3,000		0	$	17.150000	$	51,450.00
Cecilio M. CruzSSN ###-##-####		8/5/1998	Non-Qualified		8/5/2003	options expired8/5/2003		2,000		0	$	17.150000	$	34,300.00
Patricia DoucetteSSN ###-##-####		8/5/1998	Non-Qualified		8/5/2003	options expired8/5/2003		3,000		0	$	17.150000	$	51,450.00
Noli S. GumabonSSN ###-##-####		8/5/1998	Non-Qualified		8/5/2003	options expired8/5/2003		2,000		0	$	17.150000	$	34,300.00
Scott LythgoeSSN ###-##-####		8/5/1998	Non-Qualified		8/5/2003	options expired8/5/2003		2,000		0	$	17.150000	$	34,300.00
Annette Stewart (Belanger)SSN ###-##-####		8/5/1998	Non-Qualified		8/5/2003	options expired8/5/2003		3,000		0	$	17.150000	$	51,450.00
Plan Totals								15,000		0			$	257,250.00

Cancellation Recap Report Boardwalk Equities Inc.

From / / to / / Entered from 8/5/2003 to 8/5/2003

													Aggregate
Name/Optionee ID	Grant Date		Grant Type	Cancellation Date		Reason	Options Canceled		SARs Canceled		Option Price		Option Price
Plan: Boardwalk Equities Inc. 10 YR.
Tara L. KrallSSN ###-##-####		12/23/1998	Non-Qualified		8/5/2003	Terminated		3,000		0	$	16.720000	$	50,160.00
Dave H. CurrieSSN ###-##-####		4/9/1999	Non-Qualified		8/5/2003	Terminated		2,000		0	$	12.270000	$	24,540.00
Jamie A. BrownSSN ###-##-####		8/9/1999	Non-Qualified		8/5/2003	Terminated		2,000		0	$	14.730000	$	29,460.00
Sean T. KreuterSSN ###-##-####		3/4/2000	Non-Qualified		8/5/2003	Terminated		3,000		0	$	15.230000	$	45,690.00
Cordell L. SchreinerSSN ###-##-####		3/27/2001	Non-Qualified		8/5/2003	Terminated		3,000		0	$	10.370000	$	31,110.00
Plan Totals								13,000		0			$	180,960.00

Cancellation Recap Report Boardwalk Equities Inc.

From / / to / / Entered from 8/5/2003 to 8/5/2003

Aggregate

Name/Optionee ID

Grant Date

Grant Type

Cancellation Date

Reason

Options Canceled

SARs Canceled

Option Price

Grand Totals

28,000

$438,210.00

Form 45-102F3 – Renewal Notice of Intention to Distribute Securities and Accompanying Declaration Pursuant to Section 2.8 of the Multilateral Instrument 45-102 – Resale of Securities

1. Name and address of reporting issuer.

Boardwalk Equities Inc. 200, 1501 – 1 Street S.W. Calgary, Alberta T2R 0W1

2. Date issuer became a reporting issuer.

Alberta: 1993 Ontario: 1997 Boardwalk Equities Inc. has been a reporting issuer in all jurisdictions in Canada for greater than two years.

3. Name and address of selling security holder.

Boardwalk Properties Company Limited c/o Boardwalk Equities Inc. 200 – 1501 – 1 Street S.W. Calgary, Alberta T2R 0W1

4. State whether the selling security holder is an insider or officer of the Issuer (if an officer, state title).

Boardwalk Properties Company Limited (“BCPL”) is an insider of Boardwalk Equities Inc. (“Boardwalk”) by virtue of the fact that BCPL directly owns 31.02% of the issued and outstanding Common Shares of Boardwalk. Messrs. Sam and Van Kolias are insiders and officers of Boardwalk. Mr. Sam Kolias is the President and Chief Executive Officer and Mr. Van Kolias is the Senior Vice-President, Quality Control, for Boardwalk. The two men are also insiders of Boardwalk by virtue of the fact that they indirectly own all of the issued and outstanding securities of BCPL.

5. Amount or number and designation of securities of the reporting issuer held by the selling security holder.

Messrs. Sam and Van Kolias, personally, through BCPL and through other entities owned or controlled by them, hold 15,650,000 Common Shares of Boardwalk.

6. Amount or number and designation of securities of the reporting issuer proposed to be sold by the selling security holder.

Messrs. Sam and Van Kolias, through BCPL, propose to distribute 300,000 Common Shares of Boardwalk.

7. State, to the extent known to the selling security holder, the following particulars about the control position of the reporting issuer:name(s), securities of the issuer held, offices or positions with the reporting issuer or selling security holder and other material regarding such control position.

The sole control block holder of common shares of is BCPL, which owns 15,650,000 common shares of Boardwalk, representing approximately 31.02% of the issued and outstanding common shares. BCPL’s shareholders are Boardwalk Investment Limited, a corporation wholly owned by Mr. Sam Kolias, and Park Place Holdings Ltd., a corporation wholly owned by Mr. Van Kolias. In total, Mr. Sam Kolias and Mr. Van Kolias own, control or have direction over 15,650,000 common shares, representing approximately 31.02% of the issued and outstanding common shares of Boardwalk. Mr. Sam Kolias is the President and Chief Executive Officer and Mr. Van Kolias is a Senior Vice President of Boardwalk.

8. State whether the securities will be distributed privately or on an exchange or a market (state name of exchange or market).

The common shares will be sold through the facilities of the Toronto Stock Exchange and/or the New York Stock Exchange.

9. Proposed date of sale or date of commencement of sale.

The distribution of the common shares is proposed to commence on or after August 26, 2003, but in no event prior to seven (7) days after the date of filing of this Notice of Intention with the Toronto Stock Exchange.

10. If the selling security holder is a lender, pledgee, mortgagee or other encumbrancer selling securities distributed under an exemption in securities legislation from the prospectus requirement for a trade to a lender, pledgee,

mortgagee or other encumbrancer from the holdings of a control person for the purpose of giving collateral for a debt made in good faith, state the date and amount of the loan, pledge, mortgage or other encumbrance, reason for liquidating the debt and the circumstances of default.

N/A

11. State the date that the selling security holder or lender, pledgee, mortgagee or other encumbrancer acquired the securities.

N/A

Declaration, Certificate and Undertaking

The selling security holder for whose account the securities are to be sold, and to which this certificate relates, hereby:

	(1)		declares that the selling security holder has no knowledge of a material fact or material change with respect to the issuer of the securities that has not been generally disclosed;
	(2)		declares that to the best of the selling security holder’s information and belief:

(a) no unusual effort has been made to prepare the market or to create a demand for the securities to be sold and no extraordinary commission or other consideration has been paid in respect of such trade; (b) the transaction to which this notice of intention and declaration relate is an arm’s length transaction made in good faith; and (c) the securities have been held for the period of time required under section 2.8 of Multilateral Instrument 45-102 Resale of Securities and the other conditions of the applicable subsection of that section have been met;

	(3)		undertakes that no unusual effort will be made to prepare the market or to create a demand for the securities to be sold and no extraordinary commission or other consideration will be paid in respect of such trade;
	(4)		undertakes that this Form will be further renewed and filed on the 28th day after the date of filing this Form and thereafter at the end of each 28 day period; and

(5) certifies that the information given in the answers to the questions in this Form are true.

Date: August 19, 2003 Boardwalk Properties Company Limited (name of selling security holder) (Signed) “Sam Kolias”, President and Chief Executive Officer

Instruction:

File this form with the securities regulatory authority in each jurisdiction in which the securities are being distributed and with the exchange in Canada on which the securities that are the subject of the distribution are listed.

Notice – Collection and Use of Personal Information

The personal information required under this form is collected on behalf of and used by the securities regulatory authorities set out below for the purposes of the administration and enforcement of the securities legislation in Alberta, British Columbia, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, Ontario and Saskatchewan. All of the information required under this form is made available to the public pursuant to Multilateral Instrument 45-102 and the securities legislation in each of the jurisdictions indicated above. If you have any questions about the collection and use of this information, contact the securities regulatory authorities in the jurisdiction(s) in which the form is filed, at the address(es) set out below.

Alberta Securities Commission 4th Floor, 300 – 4th Avenue S.W. Calgary, Alberta T2P 3C4 Attention: Information Officer Telephone: (403) 297-6454 Facsimile: (403) 297-6156

British Columbia Securities Commission P.O. Box 10142, Pacific Centre 701 West Georgia Street Vancouver, British Columbia V7Y 1L2 Attention: Manager, Financial and Insider Reporting Telephone: (604) 899-6730 or (800) 373-6393 (in B.C.) Facsimile: (604) 899-6506

Securities Commission of Newfoundland P.O. Box 8700 2nd Floor, West Block Confederation Building 75 O’Leary Avenue St. John’s, Newfoundland A1B 4J6 Attention: Director of Securities Telephone: (709) 729-4189 Facsimile: (709) 729-6187

Department of Justice, Northwest Territories Legal Registries P.O. Box 1320 1st Floor, 5009 – 49th Street Yellowknife, NWT X1A 2L9 Attention: Director, Legal Registries Telephone: (867) 873-7490 Facsimile: (867) 873-0243

Nova Scotia Securities Commission 2nd Floor, Joseph Howe Building 1690 Hollis Street Halifax, Nova Scotia B3J 3J9 Attention: Corporate Finance Telephone: (902) 424-7768 Facsimile: (902) 424-4625

Department of Justice, Nunavut Legal Registries Division P.O. Box 1000 – Station 570 1st Floor, Brown Building Iquluit, NT. X0A 0H0 Attention: Director, Legal Registries Division Telephone: (867) 975-6190 Facsimile: (867) 975-6194

Ontario Securities Commission Suite 1903, Box 55 20 Queen Street Toronto, Ontario M5H 3S8 Attention: Administrative Assistant to the Director of Corporate Finance Telephone: (416) 593-8200 Facsimile: (416) 593-8177

Saskatchewan Securities Commission #800, 1920 Broad Street Regina, Saskatchewan S4P 3V7 Attention: Deputy Director, Legal Telephone: (306) 787-5879 Facsimile: (306) 787-5899

PRESS RELEASE

INTENTION TO MAKE NORMAL COURSE ISSUER BID

Boardwalk Equities Inc. (“Boardwalk”) wishes to announce its intention to make a normal course issuer bid (the “Bid”) through the facilities of and subject to regulatory approval of The Toronto Stock Exchange. Boardwalk’s previous normal course issuer bid expired on August 11, 2003.

Boardwalk currently has 50,456,314 issued and outstanding common shares. The Bid, if approved, would allow Boardwalk to purchase up to 2,771,228 common shares, representing 10% of its public float, through the facilities of The Toronto Stock Exchange. The Bid, if approved, is expected to commence on August 25, 2003 and will terminate one year later, or at such earlier time as the Bid is complete.

Boardwalk believes that the current and recent market prices of its common shares do not reflect their underlying value. Boardwalk’s management is initiating this program as it feels that, at current market prices, an investment in Boardwalk’s own high quality portfolio will deliver strong returns for shareholders and represents an effective use of its capital and steadily increasing cash flows. At the same time, Boardwalk plans to continue its property acquisition and capital improvement programs. Boardwalk will purchase the common shares for cancellation with the intention of increasing the proportionate interest of all remaining shareholders.

Concurrent with the Bid, Messrs. Sam and Van Kolias, the controlling shareholders of Boardwalk, through Boardwalk Properties Company Limited, a company wholly-owned and controlled by them, intend to sell 300,000 Common Shares of Boardwalk from their combined holdings to fund repayment of indebtedness, to diversify their investment portfolios and to fund their charitable causes. In connection with such sale of Common Shares, Messrs. Sam and Van Kolias have taken appropriate steps to ensure that none of the Common Shares sold by them, through Boardwalk Properties Company Limited, are offered for sale or purchased as part of the Bid and will instruct the brokerage firm appointed to execute the sale of their 300,000 Common Shares through the facilities of The Toronto and New York Stock Exchanges not to offer for sale any of those Common Shares through the Bid.

Corporate Profile

Boardwalk Equities Inc. is Canada’s largest owner/operator of multi-family rental properties. Boardwalk currently owns in excess of 250 properties with approximately 31,200 units totalling approximately 26 million net rentable square feet. The company’s portfolio is concentrated in the provinces of Alberta, Saskatchewan, Ontario and Quebec. Boardwalk is headquartered in Calgary and its shares are listed on both the Toronto Stock Exchange and the New York Stock Exchange and trade under

- 2 -

the symbol BEI. The Company has a total market capitalization of approximately $2.1 billion.

For further information please contact:

Boardwalk Equities Inc. Sam Kolias, President and CEO, (403) 531-9255; Roberto Geremia, Senior Vice-President, Finance and Chief Financial Officer, (403) 531-9255; Mike Hough, Senior Vice President, (416) 364-0849; Paul Moon, Director of Corporate Communications, (403) 531-9255.

Information can also be found on the Internet at http://www.bwalk.com.

Boardwalk Equities Inc.Suite 200, 1501 – 1 Street S.W.Calgary, Alberta T2R 0W1 Phone: (403) 531-9255Fax: (403) 531-9565World Wide Web: http://www.bwalk.com

August 21, 2003

NEWS RELEASE FOR IMMEDIATE DISTRIBUTION

TSX ACCEPTS NORMAL COURSE ISSUER BID

Boardwalk Equities Inc. (“Boardwalk”) is pleased to announce that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid (the “Bid”).

Boardwalk currently has 50,456,314 issued and outstanding common shares. The public float of common shares of Boardwalk is 27,702,284. The Bid allows Boardwalk to purchase up to 2,770,228 common shares, representing 10% of its public float, through the facilities of the Toronto Stock Exchange. The Bid will commence on August 25, 2003 and will terminate on August 24, 2004 or such earlier time as the Bid is complete.

Boardwalk has purchased its common shares within the past 12 months pursuant to a normal course issuer bid which expired on August 11, 2003. These purchases were effected through the facilities of the Toronto Stock Exchange at market price and in accordance with the rules and policies of the Toronto Stock Exchange. The Corporation purchased 52,500 common shares between August 12, 2002 and August 11, 2003, and the average price paid for the common shares over this period was $14.26.

Concurrent with the Bid, Messrs. Sam and Van Kolias, the controlling shareholders of Boardwalk, through Boardwalk Properties Company Limited, intend to sell 300,000 Common Shares of Boardwalk from their combined holdings to fund repayment of indebtedness, to diversify their investment portfolios and to fund their charitable causes. In connection with such sale of Common Shares, Messrs. Sam and Van Kolias have taken appropriate steps to ensure that none of the Common Shares sold by Boardwalk Properties Company Limited are offered for sale or purchased as part of the Bid and will instruct the brokerage firm appointed to execute the sale of their 300,000 Common Shares through the facilities of the Toronto and New York Stock Exchanges not to offer for sale any of those Common Shares through the Bid.

Corporate Profile Boardwalk Equities Inc. is Canada’s largest owner/operator of multi-family rental properties. Boardwalk currently owns in excess of 250 properties with approximately 31,200 units totalling approximately 26 million net rentable square feet. The company’s portfolio is concentrated in the provinces of Alberta, Saskatchewan, Ontario and Quebec. Boardwalk is headquartered in Calgary and its shares are listed on both the Toronto Stock Exchange and the New York Stock Exchange and trade under the symbol BEI. The Company has a total market capitalization of approximately $2.1 billion.

For further information please contact: Boardwalk Equities Inc. Sam Kolias, President and CEO, (403) 531-9255; Roberto Geremia, Senior Vice-President, Finance and Chief Financial Officer, (403) 531-9255; Mike Hough, Senior Vice President, (416) 364-0849; Paul Moon, Director of Corporate Communications, (403) 531-9255. Information can also be found on the Internet at http://www.bwalk.com.

“to efficiently provide the best value in carefree living at competitive prices and utmost customer satisfaction"

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Filing Compare · BOARDWALK EQUITIES INC