Sack Lunch Productions Inc (SAKL)

[mike306oh]

***Nexia Subsidiary Executes Real Estate Sales Contract for $1.86 Million
Business Wire - March 23, 2005 09:00

SALT LAKE CITY, Mar 23, 2005 (BUSINESS WIRE) -- Nexia Holdings Inc. (OTCBB: NEXH) announced today that its subsidiary, West Jordan Real Estate Holdings Inc., has signed a Real Estate Purchase Agreement for the sale of its 70,000-square-foot shopping center for $1.86 million. The property was purchased for $799,000 in 1999. The property's current book value is $909,500, which is its depreciated cost basis plus improvements. At closing, Nexia should realize a net profit of approximately $805,500, which is scheduled to occur on or before June 9, 2005. The closing is subject to the purchaser's due diligence currently set to be completed by April 27, 2005.