MobileVest Agrees to Purchase $5,000,000 Mobile Home Park in Leesburg, Fla

Business Wire, August 5, 1999

NEW PORT RICHEY, Fla.--(BUSINESS WIRE)--Aug. 5, 1999--

MobileVest, Inc. (OTC BB:MOBV) announced today that it has agreed to purchase a mobile home park, located in Leesburg, Fla., for $5,000,000.

This adult community, which includes 265 mobile home sites including both single and double-wide homes, is centrally located within walking distance to a golf course, shopping center, bank and medical center, making it extremely attractive to current and future tenants. The purchase of this property will add approximately $680,000 in annual revenues to MobileVest, and the closing will take place on or before Sept. 30, 1999.

According to Steve McConihay, the Chief Executive Officer of MobileVest, "This property represents a major acquisition for MobileVest since it alone will double our current assets to in excess of $8,000,000. Additionally, when we fill the 30 sites, which are currently vacant, we will have added an additional $100,000 in revenue for the company."

MobileVest, Inc. is an asset based, capital management company which acquires, manages, expands and sells commercial properties, with an emphasis on manufactured housing communities. Additionally, it is a correspondent consumer and commercial lender which, among other things, allows MobileVest to share in the acquisition fees resulting from its acquisition financing. For more information, visit MobileVest's web site at www.mobilevest.com.

This material was prepared by Strategic Investors Group (SIG) for the Company discussed herein, based upon Company supplied information or other sources believed to be reliable. The information is not guaranteed by SIG for accuracy or to be all-inclusive. The foregoing discussion contains forward-looking statements that involve risks and uncertainties. Actual results could differ from those discussed in this release. This material is for informational purposes only and is not an offer or solicitation to buy or sell securities. SIG, its affiliates, and/or its officer, directors and employees may from time to time have a position in these securities.