ST. PETERSBURG, Fla., Nov. 19, 2004 (PRIMEZONE) -- National Hospitality Group., Inc., (Pink Sheets:NHGP) a majority-owned subsidiary of Prime Rate Investors, Inc., announces that on November 15, 2004, approximately 3,000 shareholders of Prime Rate Investors, Inc. (Pink Sheets:PRRM) will be issued shares of National Hospitality Group, Inc. in a dividend distribution, resulting in the PRRM shareholders owning all of PRRM's interest in NHGP directly. The distribution of shares issued will be in the ratio of one (1) share of NHGP for every one hundred (100) shares of PRRM owned on September 30, 2004. Damian Guthrie, President of NHGP said, "We are pleased to welcome the shareholders of PRRM as direct shareholder in NHGP, and we are excited that this event will create liquidity in the stock and bring a tremendous visibility to the company."
Tampa Bay Mortgage Solutions, Inc., the wholly owned subsidiary of National Hospitality Group, Inc., will continue to execute the same business model that it performed when the Company was the subsidiary of Prime Rate Investors, Inc., including management and location.
National Hospitality Group, Inc. operates through its wholly owned subsidiary Tampa Bay Mortgage Solutions, Inc., which is a direct lender specializing in short-term asset based lending. The company specializes in acquisition financing, construction loans and lines of credit for builders. The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The specialty of the company is "hassle-free, hard equity loans." The company has a web site http://www.nhgp.net.
The release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.