Monday October 5, 8:00 am Eastern Time
Company Press Release
Peacock Financial Corp. Acquires Second Main
Street Historic Property
SAN JACINTO, Calif.--(BUSINESS WIRE)--Oct. 5, 1998--Peacock Financial Corp., (OTCBB:PFCK - news) announced
today that it has entered into a purchase agreement to acquire a second historic property in old downtown San Jacinto, Calif.
The acquisition, valued at $200,000, is in line with Peacock's strategy to redevelop this 100-year city's Main Street Business
district.
Steven Peacock, president of Peacock Financial Corp., stated, ''This key property, known as 'the Hogan,' was built in the
1930's and is well known for its unique architectural design throughout Southern California. Our plan will be to convert the main
structure into an upscale coffee house, an idea that has been well received by the local community.''
The Company's first historical property, acquired two years ago, was the historic Virginia Lee Hotel, located next door to the
Hogan, which was converted into executive suites and currently serves as the Company's corporate headquarters.
Peacock Development Corp., a wholly owned subsidiary of Peacock Financial Corp., is a BDC (business development
corporation) with 22 years of real estate experience in land assemblage and planning, infrastructure design and construction,
and inner city redevelopment projects. The company's most recent developments are near the Eastside Reservoir, a $3 billion
recreational lake in the San Jacinto Valley, currently under construction by the Metropolitan Water District of Southern
California.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are
not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to
differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing
and evaluation of products and other risks detailed from time to time in the Company's fillings with the Securities and Exchange
Commission. |
