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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: Vision21 who wrote (517)	8/9/1999 1:36:00 PM
From: Spark	Respond to of 656

NRPI Announces Land Acquisition for 60 Unit Building Business Wire - August 09, 1999 08:48 MIAMI--(BUSINESS WIRE)--Aug. 9, 1999--National Rehab Properties, Inc. (OTC BB:NRPI), announced today that it has contracted to buy a building site for a 60 unit apartment site in Miami, Florida for $800,000. The project will be known as "GRANADA GRAND." Richard Astrom, CEO and President said: "The apartments are on the northern border of Coral Gables, a very good location. The building will be a six story high rental building. Upon completion the building will produce a positive cash flow and will have a value 20% greater than our cost." Astrom further stated, "The land is being purchased for cash, and construction and permanent financing is available to the company at very attractive terms." The company's temporary web address is http:/www.pagelot.com/nrpi.htm Richard Astrom, President and CEO stated, "We are looking for acquisition candidates and land for large residential rental real estate projects, that will increase company revenues and enhance shareholder profitability." 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