SOURCE: Crystal Properties Holdings Inc

June 22, 2009 12:27 ET

Crystal Announces Financial Info for Downtown River District Revitilization

LOS ANGELES, CA--(Marketwire - June 22, 2009) - Crystal Properties Holdings, Inc. (PINKSHEETS: CPHG) continues it internal talks and implementation of multiple funding sources for the Rockford River District Revitalization program identified as the RockRiverLive ( which includes many funding sources.

Union leaders (such B.C.T.C. President Brad Long and Business Manager Tom DelSanto of the Laborers International Union of North America) are working closely with Crystal Properties financial team to be one funding source. The CEO of Crystal Properties Peter Anello stated, "The initial talks of project funding under the Unions Pension Program is still viable because of the magnitude of this project but clearly not the only sources. The initial project is anticipated to be funded through a combination of sources which include the use of some cash on hand, traditional and private financing, available grant monies and other tax incremental financing programs.

Further, Mike Robinson, the President of Robinson Brothers ( has been working closely with Crystal properties and the City of Rockford's ( financial teams which have included Mr. Reid Montgomery (Executive Director of Community & Economic Development Department), Mr. Richard May (Commercial Development Coordinator) and Wayne Dust (Planning Administrator) for such special programs as Rivers Edge Program, Tax Incremental Financing (TIF) and Federal Brownfield Programs.

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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