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Non-Tech : Under $0.01 (..subpenny..) stocks

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From: ThinkingBig	6/24/2005 9:03:46 AM
	of 733

Union Equity Revising Capital Structure; Awards Dividend to Shareholders in Preferred Properties Real Estate Inc. via COMTEX June 24, 2005 PALM BEACH, Fla., Jun 24, 2005 (BUSINESS WIRE) -- Union Equity, Inc. (Pink Sheets:UNQT) is in the process of revising its capital structure, addressing both the authorized and outstanding shares. In addition, on June 22, 2005 the company approved a shareholder dividend in the form of common stock of Preferred Properties Real Estate, Inc., a wholly owned subsidiary and private company. Shareholders will receive one share of Preferred Properties Real Estate Inc. for every ten shares of Union Equity common stock owned. Odd lots will be rounded up. The record date to receive the dividend is July 1, 2005. The additional shares of Preferred Properties Real Estate Inc. will be mailed to shareholders on July 8, 2005, which is also the payment date. The shares shall be mailed without any action on behalf of the shareholders. Shareholders and other interested parties who have not done so already are encouraged to sign up for Union Equity's electronic newsletters at unqt.com and the latest real estate news at kingoffer.com.

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