To: Investor Clouseau who wrote (7250 ) 6/4/1999 4:07:00 PM From: Investor Clouseau Respond to of 108040
NRPI news;...........(BSNS WIRE) NRPI Enters Agreement to Acquire Land Parcel for $18 Million NRPI Enters Agreement to Acquire Land Parcel for $18 Million Dollar Residential Development; Land Parcel Neighboring Massive Commercial Development Business Editors MIAMI--(BUSINESS WIRE)--June 4, 1999--National Rehab Properties, Inc. (OTC BB:NRPI) announced today that it has entered into an agreement to purchase a tract of land for the development of 100 residential homes. The proposed price for the homes is projected to be in excess of $180,000 per home generating over $18 million expected revenue. "There is a huge demand for homes in this area and we anticipate a rapid sell out upon completion of this acquisition," stated Richard Astrom, President of National Rehab Properties, Inc. The company announces it has a new Internet Web site, with a temporary address of http:/www.pagelot.com/nrpi.htm. The company is in final negotiations on several additional acquisitions and anticipates being able to disclose them publicly in the very near future. The company has 3,000,000 shares of stock outstanding. National Rehab Properties, Inc. builds homes and rehabilitates homes for the "first time homebuyer" in the mature established residential neighborhoods of Florida and will continue to do so. 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. --30--cp/mi* CONTACT: National Rehab Properties, Inc., Miami Company Contact: Richard Astrom, President and CEO Telephone: 305/573-8882 Fax: 305/571-8357 nrpi.com E-Mail: Realtyrich@aol.com or Investor Relations: PMR and Co Patrick M. Rost Telephone: 760/942-0015 E-Mail: PMRandCo@aol.com