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To: jpmac who wrote (29533)	2/22/2000 9:23:00 AM
From: SSP	Respond to of 150070

REII Makes Announcement to Acquire Additional Income Properties Business Editors NAPLES, Fla.--(BUSINESS WIRE)--Feb. 22, 2000--REII (OTCBB:REIC) has completed negotiations to acquire additional income properties which will result in the doubling of REII's gross assets, and approximately doubling its income. This acquisition is in keeping with a previous letter of intent to acquire additional income producing properties. This acquisition is schedule to close on March 15,2000. There are more acquisitions being negotiated and will be announced as soon as they are completed. This acquisition was approved in REII's shareholder's meeting on December 31, 1999. --30--nmb/mi* CONTACT: REII Inc., Naples Garfield Ricketts, 941/261-3396 garfieldricketts@compuserve.com