ST. PETERSBURG, Fla., Dec. 9, 2004 (PRIMEZONE) -- National Hospitality Group, Inc. (Pink Sheets:NHGP) is pleased to announce that it has begun trading under the symbol of NHGP with 3000 new shareholders. On November 15, 2004, Prime Rate Investors Inc. shareholders were issued restricted shares of National Hospitality Group, Inc. (Pink Sheets:NHGP) common stock. These shares were distributed in the spin-off of NHGP and are restricted for 12 months and have been distributed to the relevant brokerage firms on the 15th November 2004.
"We anticipate that individual shareholders will receive these shares in approximately the next 6 weeks according to our stock transfer agent," stated Damian Guthrie, President of NHGP. "We are pleased to have so many new shareholders in NHGP and we look forward to providing all the new and existing shareholders the opportunity to grow with our company."
The 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.