The terms of the contract are:

a. Palomar will purchase the contracts on an 'as available' basis
b. Palomar will receive a 12 % annual rate of return
c. Payments will extend for 12 months for each individual packet of
contracts purchased; all payments are fully amortized and include
principle + interest
d. Price Right Auto Group is responsible for all collection and
management matters that pertain to the individual contracts
e. Term of the agreement is for one year.

In association with the signing of this agreement, Palomar Enterprises,
Inc., has purchased the second packet of contracts from Price Right Auto
Group. Palomar Enterprises, Inc., has provided $25,538.50 to Price Right for
the second packet of contracts. This transaction will provide Palomar
Enterprises, Inc., a revenue stream of $2,383.60 per month, as well as an
increase in the Company's assets.

From time to time, the Company may issue news releases that contain
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934,
and is subject to the safe harbor created by those sections. This material
may contain statements about expected future events and/or financial results
that are forward-looking in nature and subject to risks and uncertainties.
For those statements, the Company claims the protection of the safe harbor for
forward-looking statement provisions contained in the Private Securities
Litigation Reform Act of 1995 and any amendments thereto. Any statements that
express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, goals, assumptions, or future events
or performance are not statements of historical fact and may be
"forward-looking statements." "Forward-looking statements" are based upon
expectations, estimates and projections at the time the statements are made
that involve a number of risks and uncertainties that could cause actual
results or events to differ materially from those anticipated.

SOURCE Palomar Enterprises, Inc.
-0- 06/07/2004
/CONTACT: Palomar Enterprises, Inc., +1-775-887-0670,
contact@palomarenterprises.com/
/Web site: http://www.palomarenterprises.com /
(PALR)

CO: Palomar Enterprises, Inc.; Price Right Auto Group
ST: Nevada, Michigan
IN: FIN OTC
SU: CON

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Due Da Due......But Be Quick About It!!!!!