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Microcap & Penny Stocks : AmeriResource Technologies (ARET) -- Ignore unavailable to you. Want to Upgrade?

To: TsioKawe who wrote (3022)	9/29/1998 5:13:00 PM
From: TsioKawe	Respond to of 7609

First Americans Signs Exclusive Broker Agreement With Washington Mutual Bank to Originate $20 Million of Oklahoma Native American Pilot Program LENEXA, Kan.--(BUSINESS WIRE)--Sept. 14, 1998--First Americans Mortgage Corp., a subsidiary of AmeriResource Technologies Inc. (OTC BB:ARET), announced Monday that they have signed an exclusive Broker Agreement with Washington Mutual Bank, Seattle, to originate $20 million of the Oklahoma Native American loan program. The pilot program was developed in conjunction with PMI Mortgage Insurance Co. and Federal Home Loan Corp. (Freddie Mac) as a first-of-its-kind, risk-share program. Under the program the tribe actually pledges assets that may be used to help offset losses due to property foreclosure. In exchange, a tribal member receives a loan program with a small downpayment requirement and expanded credit features. The signing of this agreement will allow FAMC to expand the pilot program to two additional tribes. Those tribes have been identified and are in final negotiations with PMI Mortgage Insurance Co. and FAMC. FAMC is currently originating a $10 million commitment with the Chickasaw Nation under this program. First Americans President Dustan Shepherd commented: "We look forward to working with an institution of Washington Mutual's caliber. With the addition of this agreement, FAMC will have total loan guarantees of $30 million under this program. To put this agreement and its importance to FAMC and Indian Country lending in perspective, in 1997 Federal National Mortgage Corp.'s (Fannie Mae) annual Native American loan volume was approximately $25 million. We look forward to working with additional tribes under this program, which will allow FAMC to realize a steady increase in revenue. Discussions are currently under way to explore the means to continue the expansion of the program to other Oklahoma tribes." Washington Mutual Bank is the nation's largest savings institution, with assets in excess of $103 billion. Currently the bank is operating in 39 states and has been recognized as a leader in residential Native American lending in the Northwest region of the United States. The release may contain forward looking statements that involve risk and uncertainties, including without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes. The company's dependency on financing third party suppliers and intellectual property rights, and other risks detailed from time-to-time in the company's federal filings, annual reports, offering memorandums or prospectus. CONTACT: AmeriResource Technologies Inc., Lenexa Dustan R. Shepherd, 913/859-9505 913/859-9520 (Fax) or Robert Solarchik, 800/913-9767 or 954/346-5796 KEYWORD: KANSAS OKLAHOMA BW1266 SEP 14,1998 7:14 PACIFIC 10:14 EASTERN who is FAMC and what have they done??********************************

To: TsioKawe who wrote (3022)	9/29/1998 5:14:00 PM
From: TsioKawe	Read Replies (2) \| Respond to of 7609

First Americans Mortgage Corp. Makes a Presentation to the Santa Ana Pueblo Nation for Financing, Design & Construction for Housing LENEXA, Kan.--(BUSINESS WIRE)--Sept. 23, 1998--First Americans Mortgage Corp., an AmeriResource Technologies Inc. Subsidiary (OTCBB: ARET) announced today that Dustan Shepherd & Delmar Janovec made a presentation before the Tribal Administrator and Staff for the development of Housing on the reservation. FAMC will submit a formal proposal within the next two weeks for this Housing initiative that would include financing, design, and construction of approximately 30 homes for this next year. The financing could be available under some of the same programs that FAMC is currently working with other Native American Nations including the Chickasaw & Choctaw Nations in Oklahoma that was announced per the Press Release dated Sept. 10, 1998. The size of the homes are approximately 1,400 sq. ft. in size with a target cost of $80,000 depending on the final design of the homes. The Santa Ana Pueblo Tribe is located just North of Albuquerque, N.M. on approximately 18,000 acres of reservation and have about 640 tribal members. The Santa Ana Pueblo are very progressive and have several profitable business entities. They currently operate the Santa Ana Star Casino that is approximately 50,000 sq. ft. in size. The Santa Ana's also own an 18 Hole Golf Course that is rated as one of the premier courses in the Southwest. They are currently planning a large commercial project that includes a major Five Star Hotel and convention center to include all of the amenities with ground breaking scheduled for the spring of 1999 depending upon final completion of design. Dustan Shepherd, President of ARET and FAMC commented, "We look forward to working with the Santa Ana Pueblo Tribe on this housing initiative and developing a business relationship. We believe this relationship will give the FAMC and their sister companies the cornerstone project that will lead to the establishment of an office in the Southwest and expand our existing partnership base that has already been set in motion." AmeriResource Technologies Inc. is a holding company which, through its subsidiaries, provides a full range of services, i.e., mortgage financing, consulting, design/construction, and specializing in construction management services coupled with economic development both within and outside the Native American Community. The firm is based in Lenexa, Kan. in the Heart of America. The release may contain forward looking statements that involve risk and uncertainties, including without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes. The company's dependency on financing third party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual reports, offering memorandums or prospectus. CONTACT: AmeriResource Technologies Inc. Delmar Janovec, 913/859-9292 Dustan R. Shepherd, 913/859-9505 or Robert Solarchik, 800/913-9767 KEYWORD: KANSAS OKLAHOMA NEW MEXICO BW1100 SEP 23,1998 5:27 PACIFIC 08:27 EASTERN