FOR IMMEDIATE RELEASE

CONTACT:
Sheryl L. Cautero
Office Administrator
Reichel Realty & Investments, Inc.
4524 Gun Club Road, Suite 212
West Palm Beach, Florida 33415
(561) 478-4440, Fax (561) 478-4442
scautero@reichelrealty.com
www.reichelrealty.com

Reichel Realty successfully completes Sale of 14.69 Acres in Lantana, Florida.

WEST PALM BEACH, FL - May 24, 2002 - Reichel Realty is pleased to announce the sale of 14.69 Acres in East-Central Palm Beach County at the intersection of Lantana Road and High Ridge Road. The Palm Beach County Solid Waste Authority purchased the property for $950,000 or approximately $65,000/acre.

William B. Reichel President and Christopher F. Fleming, Sr. Broker/Associate successfully handled the transaction. Reichel Realty & Investments, Inc., exclusively represented the Seller, Manfred Buttner of Jupiter, Florida.

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