National Residential Properties (fka NRES)

[Joemoney]

NRES Announces Delay In Share Dividend Payment

MIAMI--(BUSINESS WIRE)--Jan. 10, 2002--National Residential Properties, Inc. (OTCBB:NRES.OB - news), announced today that the common stock dividend of 1/10th share for each share of common stock payable to holders of record on November 19, 2001, could not be paid on January 10, 2002, the scheduled payment date. On December 6, 2001, the Company filed an Information Statement on Schedule 14C to increase its authorized common stock for purposes of, among other things, making available sufficient shares of common stock to pay the shareholder stock dividend. The Securities and Exchange Commission has asked the Company to amend its Information Statement. Until such time as that amendment is filed with and accepted by the Commission, the Company will be unable to pay the common stock dividend.

This document contains certain forward-looking statements regarding NRES, including statements about its operations, prospects and expectations about future financial results, including, but not limited to future revenues and earnings. The words ``estimate,' ``anticipate,' ``possible,' ``seeking' and similar expressions identify forward-looking statements which speak only as to the date the statements are made. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially and are subject to change at any time. NRES's actual results could differ materially from expected results. NRES undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2000, filed with the Securities and Exchange Commission as well as subsequent reports filed on Forms 8-K and 10-QSB.



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Contact:

National Residential Properties, Inc., Miami
Richard Astrom, 305/573-8882, Fax [phone]
Web Page http://www.nresp.com


http://biz.yahoo.com/bw/020110/102329_1.html