SOURCE: freshstart properties

January 18, 2007 17:00 ET

Freshstart Properties, Inc. Announces Completion of Its Development Project

TACOMA, WA -- (MARKET WIRE) -- January 18, 2007 --Freshstart Properties, Inc. (PINKSHEETS: FSPP) is pleased to announce that it has completed construction on a 3-bedroom, 2-bathroom home located at 6310 South I St, Tacoma, WA. The company acquired the lot on which the home was built for $48,809. Building costs were $118,906. The property recently appraised for $238,000, resulting in a total profit through increased equity of over $70,000. The company has received the occupancy permit and it is now in the process of advertising the home's availability at the current market rent of $1,395.00 per month.

Mr. Maherali, President and Chief Executive Officer, stated, "This is a major milestone for the company, as it continues to build, grow, and profit from its acquisition efforts."

About Freshstart Properties, Inc.

Freshstart Properties Inc. (PINKSHEETS: FSPP) is a publicly traded, real estate company engaged in the acquisition, ownership, management of revenue producing real estate assets. The company conducts its operations in and around the Pacific Northwest. The company's principal objective is to create equity and long-term earnings growth through the acquisition and development or renovation of undervalued and foreclosed real estate. Please visit Freshstart's web site at www.freshstartpropertiesinc.com for additional information relating to its properties.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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