Kingston Properties Ltd – Completion of Sale and Purchase of Property

Kingston Properties Ltd has advised that they have successfully concluded the sale of 4 of its 19 residential condominium units for approximately US$980,000, realizing cumulative gains of 69.5% over the four year holding period. The Company, re-invested the net proceeds in a 19 unit residential apartment building in an area of Miami. The property was purchased for US$1.88 million.