The Prayer Palace

March 16, 2007 07:23 ET

Prayer Palace Addresses Sale of Land to Katpa Holdings Inc.

Prayer Palace spokespersons respond to Toronto Star allegations

Attention: Assignment Editor, City Editor, News Editor TORONTO, ONTARIO, MEDIA RELEASE--(CCNMatthews - March 16, 2007) - Only The Prayer Palace benefited from the sale of property to Katpa Holdings Inc, a company owned by Paul and Kathleen Melnichuk.

"At the time the property was originally sold to Katpa, church funds were depleted, construction bills were mounting and bills needed to be paid," says Dave Ramnath, senior advisor to The Prayer Palace board of directors. "It was thought that selling the piece of land that fronts on to Finch west of highway 400 would alleviate the immediate financial need."

The purpose of Katpa's purchase was to help the church during a time of need until it was financially able to reacquire the property.

After reacquiring the land and determining it was no longer needed, because it was landlocked with no direct street access, the church sold it several years later.

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Frank Fernandes and David Ramnath (members of The Prayer Palace board of directors) are available for interviews. To schedule an interview contact:

Peter Turkington
Direct Phone: 905.901.9218
Email: pturkington@stratcommsolutions.ca IN: RELIGION

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