LOS ANGELES, May 5, 2004 (PRIMEZONE) -- World Associates, Inc. (OTCBB:WAIV) (Berlin Stock Exchange:GK5) is pleased to announce that it is now listed on the Berlin Stock Exchange. World Associates, Inc. was chosen, along with 50 other companies, by the Berlin Exchange who felt the company may be of interest to German investors. The company was not involved in the process and only heard it was chosen after being selected.
World Associates, Inc. President and CEO Randall Prouty commented, "We are very pleased to be listed on the Berlin Stock Exchange. We already have shareholders in Germany and this listing allows them, and other investors in Europe, to trade our stock conveniently. International investors have a real appreciation for real estate in the United States and this listing begins to reach them in a significant way. We anticipate obtaining other listings abroad in the future to provide the company with the greatest exposure possible to the international investing public. Being chosen by the Berlin Stock Exchange is one more indication we are on the right track and that our message is getting out."
World Associates, Inc. is traded in the Unofficial Regulated Market section of the Berlin Stock Exchange, which in recent years has become the most important market segment of the Berlin Stock Exchange. The Berlin Stock Exchange is today the exchange with the largest number of companies listed worldwide. The ticker symbol for World Associates on the Berlin Stock Exchange is GK5.
World Associates, Inc., through its wholly-owned subsidiary Superior Real Estate, Inc., is focused on two primary real estate market segments in California.
The first is developing factory-built single-family homes that are affordable, but designed to compete with the curb appeal and quality of site-built homes. Developing with factory-built homes is a simpler process that requires less time than site-built construction, lowering overall risk and improving profits. Superior Real Estate, Inc. is a manufactured home dealer for nationally recognized brands, including Fleetwood Homes, Skyline, and CAVCO.
The second is land development, which involves investing in raw land and adding to its value by having it approved for development by municipalities or counties. There is increasing market demand in California for fully approved land from the development and investment communities. There is little competition in the land development business because of the expertise it requires, yet much of the profit realized in many real estate projects comes from land appreciation and entitlement efforts. This makes the land development business an attractive opportunity requiring few personnel resources and offering significant rewards.
Safe Harbor Notice:
This document contains "forward-looking statements" as provided in the Securities Act of 1933 and the Securities Exchange Act of 1934. World Associates believes that the expectations reflected in such statements are reasonable, but no assurances can be given that they will prove correct. World Associates remains exposed to risk factors that include: economic conditions; the availability of sufficient financing, approximately $3M to commence an overall development plan; the availability of qualified personnel; regulatory requirements; competition; time critical deadlines; title issues; liability claims; the inability to get entitlements; poor conditions for selling the company's stock, and others. Statements made herein are not a guarantee of future corporate or stock performance. All information is believed to be reliable, but cannot be guaranteed. This release is not a solicitation to buy or sell securities. Always consult with a registered investment professional prior to investing.