NEWS TODAY. very positive
National Rehab Properties, Inc. Announces ''Company Update'' of Business Developments
MIAMI--(BUSINESS WIRE)--April 28, 1999--National Rehab
Properties, Inc. (OTC BB:NRPI) National Rehab Properties Inc. today
announced significant mile-markers that have been accomplished in the
past 120 days. Richard Astrom, President of National Rehab Properties,
Inc. stated:
-- NRPI has purchased and taken title to 17 home sites in Miami
metropolitan area.
-- The Company has retained a Miami Building Contractor, Encore
Builders, Inc. to build the 17 homes.
-- The Company has sold, prior to completion, 6 of the 17 homes.
-- NRPI expects $300,000 profit from the sale of the 17 homes.
-- The Company has funds for construction of the 17 houses.
-- The Company is looking for an additional 20 home sites on which
to build houses for Phase 2 of the 100 Yearly Home Building Plan
-- NRPI expects to build 100 similar homes in the next 12 months.
-- NRPI has retained Cummings-Grayson, C.P.A., Accountants of Miami,
Florida to perform the Annual Audit which is expected within 30
days and will be published immediately upon receipt.
-- The Company has retained PMR and Co., Patrick M. Rost President,
Financial Consulting and Investor Relations Firm to Assist in
Strategic Planning and Increase Exposure to Investor Community
-- The Company is seeking suitable profitable acquisition
candidates.
ABOUT THE COMPANY
National Rehab Properties, Inc. builds homes and rehabilitates
homes for the "first time homebuyer" in the mature established
residential neighborhoods of Florida. The company has recently
acquired financing for its building program and NRPI projects building
100 single-family homes in Miami in the next 12 months.
Mr. Astrom explained that the company plan is to expand to
several cities of Florida and Georgia.
Forward-looking statements in this press release are made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation reform act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties, including
without limitation, continued acceptance of the company's products,
competition, completion problems, technological changes and other
risks.
CONTACT:
National Rehab Properties Inc., Miami
Richard Astrom, President and CEO
305/573-8882, (Fax) 305/571-8357
nrpi.com
E-Mail: Realtyrich@aol.com
or
PMR and Co
Investor Relations:
Patrick M. Rost, 760/942-0015
E-Mail: PMRandCo@aol.com
KEYWORD: FLORIDA
BW0041 APR 28,1999
5:01 PACIFIC
08:01 EASTERN
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