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Microcap & Penny Stocks : NRPI at a new low but company is making money. -- Ignore unavailable to you. Want to Upgrade?

To: Tim Davies who wrote (500)	7/23/1999 7:12:00 AM
From: JOE TURMAINE	Respond to of 656

Tim, more from NRPI >> NRPI Announces $750,000 Financing for Miami Project Will Generate $1,500,000 in Earnings MIAMI--(BUSINESS WIRE)--July 22, 1999--National Rehab Properties, Inc. (OTC BB:NRPI - news) announced today that it has received a $750,000 mortgage financing commitment from Washington Mutual for the building of houses in Miami. The Company owns lots in Miami and is building 17 single family homes on the lots, which are presold. The Company plans on building 100 similar homes in Miami in the next 12 months and is purchasing lots to do so. Richard Astrom, President and CEO, stated, ''These mortgage funds will be used as construction financing on the Miami homes project.'' The $750,000 financing will build 50 homes with an estimated profit from those homes of $15,000 per home, equalling a profit of $750,000. The 17 homes are presold, however the profit has not been realized. The profit will be realized over the next two quarters when the houses are completed and closed with the buyers. The financing monies will then be used again to finance the building of another 50 homes. The Company has buyers waiting to purchase the entire fifty homes and will commence when building permits are issued. The company's temporary web address is pagelot.com. Astrom stated, ''We are looking for acquisition candidates and real estate projects that will increase company revenues and enhance shareholder profitability,'' and ''company attorneys are preparing documentation for the Company to become a reporting company, including annual audit.'' 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. << JOE