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CARSON CITY, Nev., June 7 /PRNewswire-FirstCall/ -- Palomar Enterprises, Inc., (OTC Bulletin Board: PALR) announces the signing of a $1,000,000.00 contract with Price Right Auto Group of Fenton, MI. Palomar Enterprises, Inc., has agreed (on a funds available basis) to purchase up to $1,000,000.00 of fully secured auto contracts that Price Right Auto Group has extended to their consumer group for the purchase of vehicles. 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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