SOURCE: Freshstart Properties Inc.

February 14, 2007 07:01 ET

Freshstart Properties Inc. Announces Key Property Acquisition

Acquisition Highlights Continued Growth Potential

TACOMA, WA -- (MARKET WIRE) -- February 14, 2007 --As part of its ongoing strategy to build a portfolio of rental properties in the Pacific Northwest, Freshstart Properties Inc. (PINKSHEETS: FSPP) announces the acquisition of a three bedroom two bath home in Tacoma, WA. This large Victorian home is located at 714 South Yakima Street in Tacoma. The property also includes a detached garage. The purchase price of $205,000 will be seller-financed by two notes, one long-term ($125,000), and one short term ($80,000). This transaction is expected to be finalized within the next thirty days.

Mr. Maherali, President and Chief Executive Officer, stated, "This asset is a strong addition to our rental portfolio. The multi-family sector in the Tacoma area continues to thrive as vacancy rates drop and rental demand is putting upward pressure on rental rates.

About Freshstart Properties

Freshstart Properties Inc. (PINKSHEETS: FSPP) is a publicly traded, real estate development company operating in 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.

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.

Contact Information