Well I guess those rumblings about news on NRPI were true! Came out just after the close Friday.
MIAMI--(BUSINESS WIRE)--June 4, 1999--National Rehab Properties,
Inc. (OTC BB:NRPI) announced today that it has entered into an
agreement to purchase a tract of land for the development of 100
residential homes. The proposed price for the homes is projected to be
in excess of $180,000 per home generating over $18 million expected
revenue.
"There is a huge demand for homes in this area and we anticipate
a rapid sell out upon completion of this acquisition," stated Richard
Astrom, President of National Rehab Properties, Inc.
The company announces it has a new Internet Web site, with a
temporary address of http:/www.pagelot.com/nrpi.htm.
The company is in final negotiations on several additional
acquisitions and anticipates being able to disclose them publicly in
the very near future.
The company has 3,000,000 shares of stock outstanding.
National Rehab Properties, Inc. builds homes and rehabilitates
homes for the "first time homebuyer" in the mature established
residential neighborhoods of Florida and will continue to do so.
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
Company Contact:
Richard Astrom, President and CEO
Telephone: 305/573-8882
Fax: 305/571-8357
nrpi.com
E-Mail: Realtyrich@aol.com
or
Investor Relations:
PMR and Co
Patrick M. Rost
Telephone: 760/942-0015
E-Mail: PMRandCo@aol.com
KEYWORD: FLORIDA
BW1334 JUN 04,1999
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