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[QUOTE]Originally posted by juice: [QB] Cal-Bay Acquires New Luxury Homes Portfolio for $4M in Las Vegas, Nevada Tuesday October 10, 10:28 am ET CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International, Inc. (OTCBB:CBAY - News) announces the purchase of 7 newly built luxury homes in Las Vegas, Nevada. ADVERTISEMENT Cal-Bay's Board of Directors today announced the company purchased the 7 newly completed luxury homes in South Las Vegas, adjacent to the luxurious Henderson suburbs. The portfolio comprises of 7 new luxury single family homes ranging from 2500-2800 square feet in size and valued at $550-$600,000 each. This acquisition will add $4M package to Cal-Bay's rapidly growing Las Vegas property portfolio, and will additionally generate in the region of $240,000 per year in rental revenues. The close of escrow is scheduled for Friday, October 13, 2006 in Las Vegas, Nevada. Cal-Bay is currently in negotiations for several other Residential and Commercial development properties in the Las Vegas area. FORWARD LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. The Company assumes no obligation to update any of the forward-looking statements in this release. Contact: Cal-Bay International, Inc. Tim Garlin, (760) 930-0100 Fax: (760) 930-0200 IR*calbayinternational.com [URL=http://www.calbayinternational.com]www.calbayinternational.com[/URL] [/QB][/QUOTE]
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