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 Historic Flagler Court Hotel, Downtown West Palm Beach, Florida

WEST PALM BEACH, FL - June 26, 2003 - Reichel Realty is pleased to announce the sale of the Flagler Court Hotel located at 533 Clematis Street in Downtown West Palm Beach, Florida. This 3-Story 11,369 sf Historic Commercial Building formerly housed a restaurant and a 30-room boarding house. The building was purchased by 533 Clematis Realty, LLC for $700,000.

William B. Reichel, President successfully handled the transaction. Reichel Realty & Investments, Inc., exclusively represented the Seller, Flagler Court Hotel, Inc., of West Palm Beach, Florida, a Lawrence Corning entity.

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