Diversified Resources Group, Inc. Signs Letter of Commitment with Major National Builder.SARASOTA, Fla.--(BUSINESS WIRE)--Aug. 4, 1999-- DRG DRG, n the abbreviation for diagnosis-related group. DRG see dorsal respiratory group. DRG Diagnosis-related group Managed care A unit of classifying Pts by diagnosis, average length of hospital stay, and , Inc., d/b/a Diversified Resources Group, Inc., (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: "DRGI"), a Sarasota, Florida based company, announced today that Westminster Homes, a division of Washington Homes, Inc. (NYSE NYSE See: New York Stock Exchange : "WHI") has signed a Letter of Commitment to purchase 300 single family and multi-family building lots in DRGI's Falls River Development in North Raleigh, North Carolina For other uses of this name, see Raleigh. Raleigh (IPA: /ˈrɑli/, ral-ee) is the capital of the State of North Carolina and the county seat of Wake County. . The purchase, valued in excess of $15,000,000, will allow Westminster Homes to be a key builder within the Falls River project. Westminster Home's parent company, Washington Homes, Inc., established in 1964, has been one of the mid-Atlantic's largest, most respected, and best capitalized builders. Washington Homes has been consistently ranked among the Nation's top 50 homebuilders, and is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . "This Agreement provides DRGI with Westminster Home's considerable expertise and top quality reputation in the building industry for its Falls River project", stated Mr. Mike Matheny, Director of DRGI's Real Estate Division. This press release shall not constitute an offer to sell securities under an exemption from registration pursuant to Regulation D, Rule 504 of the Securities and Exchange Commission. Statements regarding the company's expectations about new and exciting products, future financial performance and other forward looking statements are subject to various risks and uncertainties, including, without limitation, demand and acceptance of new and exciting products, technological advances and product obsolescence, competitive factors and the availability of capital to finance growth. |
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