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 Building on Fern Street, West Palm Beach, Florida.

WEST PALM BEACH, FL - June 25, 2002 - Reichel Realty is pleased to announce the sale of a 9,000 two-story mixed use building located at 401 Fern Street in West Palm Beach, Florida. The building was sold to Palm Beach Real Estate Partners, LLC. Palm Beach Real Estate Partners, LLC purchased the property for $700,000.

William B. Reichel, President successfully handled the transaction. Reichel Realty & Investments, Inc., exclusively represented the Seller, Central City Cluster, Inc., a Florida Corporation.

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