Gary, for your eyes only!!
biz.yahoo.com
Friday June 5, 6:02 am Eastern Time
Company Press Release
National Rehab Properties Inc. Announces Year End Results and
Monthly Sales
NEW ORLEANS--(BUSINESS WIRE)--June 5, 1998--National Rehab Properties Inc. (OTC BB:NRPI - news) Friday
announced Audited results of the year ended Sept. 30, 1997.
The entire Audit has been listed in NRPI's Internet Web Site: nrpi.com.
The company expects to be a reporting company by the end of its fiscal year 1998.
The company Friday reported that its monthly sales revenues were $379,500, the largest monthly sales volume for the
company ever.
The company expects the pace of closings to increase for the balance of the year.
The company expects to complete 100 sales by Dec. 31, 1998.
The company is in the process of rehabilitating homes in New Orleans and selling the renovated homes to ''first time
homebuyers'' through ''affordable housing'' programs. The homes are being sold to first-time homebuyers. Large areas of
New Orleans are primarily two family homes and NRPI is converting those two family homes into single family homes for
working families.
Commenting, Richard Astrom, president and chief executive officer, said: ''We started in August 1997 to buy homes in New
Orleans and we have become a leader in sales and the rehabilitation of homes in the City of New Orleans. The company will
remain profitable and is continuing to buy homes for resale based on the favorable conditions for profitability we find in this
market. The company not only benefits shareholders by engaging in a profitable business venture, but also benefits the
community by rehabilitating blighted neighborhoods.''
Certain of the above statements may be forward looking statements that involve risks and uncertainties. In such instances,
actual results could differ materially as a result of a variety of factors, including competitive developments and risk factors
listed from time to time in the company's SEC reports.
Contact:
National Rehab Properties Inc.
Richard Astrom, President and CEO
504/525-2777
or
Growth International Ltd.
George Guttman, President
718/951-0260
or
Investor Services
Joe Gort, 800/716-5147
Good luck to all of us!!!
JOE |
