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[QUOTE]Originally posted by OnceApenny: [QB] Union Equity Clarifies and Corrects Press Release Dated 6/28/05 Business Wire via COMTEX Jul 7, 2005 4:29:01 PM PALM BEACH, Fla., Jul 07, 2005 (BUSINESS WIRE) -- Union Equity, Inc. (Pink Sheets:UNQT) incorrectly stated in a press release dated June 28, 2005 that the company had requested a NOBO/OBO list from their corporate services vendor. In actuality, the company requested a NOBO list only. The company mistakenly referred to the requested list as a NOBO/OBO list. The use of the term "NOBO/OBO" was a misstatement and no OBO information was requested or obtained. Although the definitions of the terms NOBO and OBO were both included in the press release, the company did not intend to imply that the names of Objecting Beneficial Owners would be requested or provided to the company from any source. In addition, the "corporate services provider" referred to in the same release was ADP Investor Communication Services. The use of the requested NOBO list was for informational purposes and for assistance in determining beneficial shareholders for receipt of the dividend in Preferred Properties Real Estate, Inc. The company has been informed that since the dividend is of a private, restricted security, DTC will not take possession of the dividend nor distribute it to beneficial owners as would normally be the procedure. DTC has also requested whether the company would cover beneficial owners that come forward after the dividend pay date and if so, for how long. Accordingly, the NOBO list was requested to assist the company in completing the dividend distribution. The company in no manner intended to imply that it was taking efforts to determine the names of shareholders who opt to remain anonymous as allowed by current securities laws. [/QB][/QUOTE]
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