SOURCE: Crystal Properties Holdings Inc.

November 21, 2008 06:00 ET

Crystal Properties Holdings Inc. Announces Arizona and California Properties Are Targets for Purchase Offers

LOS ANGELES, CA--(Marketwire - November 21, 2008) - Crystal Properties Holdings Inc. (PINKSHEETS: CPHG) Board of Directors has approved the issuance of offers for bank and other financial institution owned real estate in Arizona and California, in addition to Nevada. Major Banks including Indy Mac, Countrywide, Wells Fargo and Bank of America will be approached about properties in these markets. Peter Anello, president of Crystal Properties, stated, "The undervalued real estate in these states is overwhelming and present tremendous opportunities for the company in the future."

About Crystal Properties Holdings Inc.

The Company is focused on aggressively purchasing and selling discounted real estate, real estate portfolios and underdeveloped properties from individual investors, financial institutions, developers and banks.

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This press release contains certain "forward-looking statements" within the meaning of federal securities laws including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions. Although the Company believes that the statements were reasonable when made, these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.

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