Recent close---- .056/.06


52 week low/high--.049/.65
Average volume tradeed daily 1,100,000

25M O/S, 16M Float


Transfer Agent: CJB Tranfer Services, Inc.
Telephone: 303-486-5873
FAX: 303 741 2678
E-MAIL [email protected]

Year 2001 Projected Net Income $7,000,000

Year 2002 Projected Net Income $15,000,000

Company Cash Position: $750,000
Market Capitalization: $3,000,000

Business: Building Apartment buildings and moderately priced Condominiums in Miami; Development of subdivisions for single family homes, $150,000-$200,000 market, on the lower east coast of Florida.

Growth: Company subcontracts all construction. Management feels that growth is function of capitalization of the company, rather than saturation of any particular real estate market.

Company will buy land and build projects that will be moderate in size and will fill a particular niche for that realty market. this will enable NRPI to grow with out great expenditures for human resources, offices, ect. With this plan the company can double in size each year for
the next 3 to 4 years. the company will grow by increasing the number of developments it takes on each year. Company presently has 3 projects that will cumulatively generate
$7,000,000 net income in the year 2001. Company projects completion of 6 similar developements for year 2002. company projects completion of 6 similar developments for year 2002, which the company is already doing due diligence on. These will generate $15,000,000 income in year 2002.

Company Goal: Become NASDAQ qualified in 2 years. NASDAQ Requirements are: $5.00 share price; $4,000,000 Assets; $4,000,000 net Worth; Managment anticipates that stock price will increase as construction is started and shown on website. Asset requirement will
be satisfied as construction is started and shown on website. Asset requirement will be satisfied as construction is started on apartments; net worth requirement will be satisfied as
income stream is started by sale of newly built projects.

ENCORE SERVICES,INC.

NRPI acquired encore services,INC in April, 2000. Encore Services, Inc. is a fully licensed building contractor.
Encore Services,Inc. will pull permits for construction and permitting of it's projects, thereby lowering costs of construction and anticipates lowering construction time.

NRPI has been transformed from a company that bought existing homes and rehabilitated them for resale to first time homebuyers, to a Developer of new Apartments, condominiums and Residental Subdivisions.

GRANADA GRAND APARTMENTS

Located adjacent to Granada entrance to Coral gables, 52 AVE S.W. 8 ST, Miami 60 units Apartment Building

Excellent Financing: 40 year mortgaage, 81/2 % interest(First housing mortage Co of Jacksonville Florida)
$720,000 Annual Rental Income
$200,000 Annual Cash Flow when built

Projected profit: $2,500,000 year 2001 when building sold.

Rentals: $ 775 monthly 1 Br 1 bath $950 2 Br 2Bath $ 1,200 3 Br 2 Bath

Construction: CBS, 4 story Residential, 2 levels parking below building

Amenities: camera security, Gated and keyed security; Roof-top pool nd recreation room-gym. each apartment individually water metered, covered secured parking.

NRPI owns land, closed September, 1999
Approved construction and permanent mortagage, closing on mortage early July,2000. Construction starting immediately. Completion date end 2001.

EAGLE TRACE SUBDIVISION

Heavily deed-restricted, walled and gated community with a lake in the center. NRPI will build houses and sell lots to other builders.

Sale of 64 lots will generate $1,500,000 net income in year 2001. Lots will sell for $40,00 and houses will be in the 150,000 price range, 3 bedrooms, 2 baths, 1,800 sq.ft.,2 car garage, and pool.

NRPI owns land and has closed on $1,136,000 development loan from Washington Mutual bank, F.A.

Construction contracts are presently "out to bid" Development is already permitted by county Located on Kins highway, 58 Avenue, 3 miles from Indian River Regional Shopping mall, Bebartolo mall.

Vero Beach is a fast growing communitu on the Atlantic Ocean, 120 miles north of Miami. Lots will be sold to couples retiring from the Northeast and South Florida. Vero Beach is home of Disney's waterfront community, Los Angeles Dodgers winter home and home of
Piper Aircraft. Completion date 2001

CONQUISTADOR PLAZA APARTMENTS

Located 32 Ave, Coral Way, just east of Coral Gables, between Coral Gables and Downtown Miami.

60 Units Apartment Building
Excellent Financing: 40 year mortgaage, 81/2 % interest(First housing mortage Co of Jacksonville Florida).

$720,000 Annual Rental Income
$200,000 Annual Cash Flow when built
Projected profit $2,500,000 year 2001 when building sold.

Rentals: $ 775 monthly 1 Br 1 bath $950 2 Br 2Bath $ 1,200 3 Br 2 Bath

Construction: CBS, 4 story Residential, 2 levels parking below building
Amenities: camera security, Gated and keyed security; Roof-top pool nd recreation room-gym. each apartment individually water metered, covered secured parking.

Approved for acquisition and development loan and permanet mortgage, closiing on mortgage early July 2000. Construction starting immediately after closing. Completion date end 2001.

COSTA SOL CONDOMINIUMS

100 Condominiums to be built in an established neighborhood of Miami, between Coral gables and Miami International Airport Building will be $ stories of residential apartments and 2 levles of parking below building. Building will have pool, recreation room, and gymnasium.

Sell out anticipated at $10,000,000 and Net Income to NRPI $3,000,000 in year 2002. Completion date 2002.

The Expo itself was a very upscale event and very well attended. I introduced my self and told him that if he did not mind I wanted to ask him some hard ball questions that I would report on Raging Bull when I got home.

I liked his attitude right from the start. He seemed more then willing to answer any questions that I might have and to set the record straight.

So I opened up the discussion about the negative perception that the company has and the low stock price. First thing I asked him was why all the volume and little movement? Are you dumping stock? He said absolutely not. That the 6 million shares for the purchase of the construction company were released 2 months ago and that he suspects that they have already entered the float.

My second question was in regards to the Transfer Agent not letting people get the present share count! He said that he received a call yesterday and moments later he put a call in to CJB and now anyone who calls will be given the information that they request. CJB Transfer Services 303-486-5873 The share count is now 25 million.

He said that there would be no need to issue more shares because they now have a Cash position of $750.000 and a Market Capitalization of $3,000,000. The first project that will commence with production will be the EAGLE TRACE SUBDIVSION(See PR Links below).

Everything is in order. They just need a few more Government officials to sign off on it! It should happen in the near future. Then we will have real construction going that will add to the companies credibility immensely.

Other NRPI projects are:

1)a 100 unit condominium project known as Costa del Sol located on West Flagler Street in Miami which will generate $10,000,000 in revenues and a $3,000,000 profit to the company in year 2001;

2)building a 60 unit apartment house in Miami (known as ``Granada Grand''), generating $8,500,000 revenues and $2,500,000 net income by 2001;

3)building a 60 unit apartment house in Miami (known as ``Conquistador Plaza''), generating $8,500,000 revenues and $2,500,000 net income by 2001.

4)The company is seeking acquisitions and land for real estate developments.

Have already been approved by the banks. Once the deals are closed PR's will be forth coming.

One thing that Richard Astrom regrets is that he put out a PR last year about homes that would be completed by APRIL 2000. He owns the land out right and has started construction on a few but DADE COUNTY will not issue building permits in a timely fashion.

He has been having much more success with the City of MIAMI and sees future projects not having the same problems as the past ones.

Also, now owning a construction company that is owned by a CUBAN American who has 25 years of experience in dealing with all the aspects of construction in South Florida can only help matters.
Mr Astrom will soon be announcing the companies First annual Business meeting to take place sometime in JULY.

At that time the company name will change to NATIONAL RESIDENTIAL PROPERTIES INC. He also hopes to update the Web Site soon so people can see the plans for the projects and Actual progress reports with pictures from the construction sites them selves.

I asked Mr Astrom about the 6 million options that were awarded to his son last year. He said that he had to do this so they could not be bought out and loose control of the company!
So far none of the options have been exercised and when they are only a small amount can be released into the float per year. The Son has no plans to exercise any in the foreseeable future. And if he does you can read about it in EDGAR.

I mentioned to Richard that many people fear that if you Reverse split once that you will do it again. His answer was that he had to do the RS to raise capital. Now that the capital is raised and Bank loans are secured there is no more need for this type of drastic action. Also he said that for him to do a Reverse split now that the company's a fully reporting company would be suicide at this price. Because he would have to file his intentions a number of months in advance and by the time it happened the stock would be trading at nothing.

The booth of NRPI showed Ariel shots of the land that that NRPI owns and where the projects would take place. All nice area's all prime real-estate. While I was spending hours getting to know Mr Astrom and his family many people came buy and picked up pamphlets and commented that the stock was the Volume leader on the OTCBB ect..

I witnessed my self enthusiasm by many on what NRPI are doing. And were very surprised at the low stock price. For the two plus hours I was there I witnessed some valuable contacts being made.

I'm sure Mr Astrom would agree that the trip was a very successful one. NRPI is now shifting their focus from Rehabbing homes, to building affordable new ones. As the process builds momentum more and more equity financing will be available and Richard can see a day in a couple of years where they will be starting or competing a new project per quarter.

My over all impression was VERY POSITIVE! I am convinced that I am dealing with honest people with a sound business plan that is just now starting to be implemented.

I feel VERY comfortable with my large investment in NRPI and I strongly suggest people to BUY at these prices.
Also I suggested to Richard that he put out a PR Dealing with the unusual volume of the stock and investor concerns. He said that it was a good idea, so we should be seeing something on the record in the near future.

MIAMI--(BUSINESS WIRE)--June 13, 2000--National Rehab Properties, Inc. (OTCBB:NRPI.OB - news) announced today that it has been selected as one of 80 companies worldwide to participate at 12th Discovery Expo 2000, at New York Hilton on June 15, 2000.

Brokers, analysts, and sophisticated fund managers will review 80 serious companies from 12 noon to 7 pm. Attendees, who are admitted free if they surrender their business card, will have opportunities to talk and question the CEO's and other executives of these growth firms.

The show is geared toward making the discovery and research of young energetic companies easier for the financial professional and the investor. The sponsor's website www.emergingequities.com, is Emerging Equity's discovery financial portal Web site for online small cap investors, while Standard and Poor's demonstrates their new investor-oriented Web site for the big caps.

``The financial world definitely needs to find growing companies whose shares have strong upside potential, and these companies want to be discovered,'' said John Robbins, publisher of the 12 year-old Investment Reporter and host of the Discovery series.