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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: David who wrote (7252)	8/14/1998 10:10:00 AM
From: Rock_nj	Read Replies (2) \| Respond to of 25711

NRPI Major News Release Friday August 14, 9:10 am Eastern Time Company Press Release National Rehab Properties Inc. Announces $2.5 Million Loan Commitment NEW ORLEANS, La.--(BUSINESS WIRE)--Aug. 14, 1998--National Rehab Properties Inc. (OTC BB:NRPI - news) Friday announced that it has received a $2.5 million loan commitment from Realty Money Center, Las Vegas, for the purchase and rehabilitation of homes. Richard Astrom, president and CEO said, ''This facility is especially attractive as the mortgage for each individual home is assumable by the eventual homebuyer.'' Astrom added: ''We are excited as this loan commitment allows NRPI to borrow at bank rates and expand growth of the company according to Company projections. We will expand to one new city immediately.'' Astrom said: ''We feel that this commitment is a result of the demonstrated successful implementation of the company's Business Plan. We have been able to attract financing at significantly more attractive interest rates. As a result of this new financing we anticipate larger profits per home and increase number of homes to be rehabilitated to 50 at a time.'' The company is in the process of rehabilitating homes in New Orleans and selling the renovated homes to ''first time homebuyers'' through ''affordable housing'' programs. The homes are being sold to first-time homebuyers. Large areas of New Orleans are primarily two family homes and NRPI is converting those two family homes into single family homes, for working families. The company believes that its activities not only benefits shareholders by engaging in a profitable business venture, but also benefits the community by rehabilitating blighted neighborhoods.'' NRPI's Internet Web Site: nrpi.com The company expects to be a reporting company by the end of 1998. Certain of the above statements may be forward looking statements that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors, including competitive developments and risk factors listed from time to time in the company's SEC reports.