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 7.92 Acres in Central Palm Beach County, Florida

WEST PALM BEACH, FL - August 1, 2003 - Reichel Realty is pleased to announce the sale of 7.92 Acres of land located at the northeast corner of Hypoluxo Road and Military Trail in central Palm Beach County, Florida. Morningstar Nursery, Inc., purchased the project from Kathleen B. Lipkins 1993 Revocable Trust & Ann Rothman for $2,400,000. The property was zoned and site plan approved for an 81,000 sf retail shopping center including out parcels.

Christopher F. Fleming, Sr. Broker/Associate successfully handled the transaction. Reichel Realty & Investments, Inc., exclusively represented the Seller in this transaction.

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