A system for releasably attaching a panel to a wall. The panel is provided with a front surface intended to be visible to an observer once the panel has been installed upon the wall at a rear surface opposite the front surface supporting a plurality of magnets. A corresponding plurality of brackets are attached to the wall and positioned such that when the panel is properly positioned upon the wall, the panel is releasably secured thereto by causing the plurality of magnets to be secured to the plurality of brackets. The panels can abut one another to create a variety of useful surfaces such as pegboard, corkboard, chalkboard, fabric and magnetic bulletin boards. The brackets can be oriented to obscure them from a viewer and can also be reoriented to provide a releasable attachment means for a frame to surround the panels for a more finished, aesthetic appearance.