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EIF HOLDINGS INC. (EIFH) ANNOUNCES ACQUISITION OF BELIZE PROPERTY

 HONOLULU, Jan. 27 /PRNewswire/ -- Richard Austin, chief executive officer of EIF Holdings Inc. (EIFH) today announced their wholly owned subsidiary Caribbean Riviera Resorts Inc. acquired 2,000 acres of prime white-sand beach-front property in the country of Belize (Central America) for the total purchase price of $3,000,000 in cash and stock. The development property is strategically located near the international airport and is also adjacent to the Pan-American Highway.
 The company plans to develop the property as a residential resort and is also currently discussing development of the property on a joint venture basis with a number of groups.
 EIF Holdings Inc. is an international environmental development and energy company whose goals are to maximize shareholder return through profitable growth.
 -0- 1/27/93
 /CONTACT: Financial Telesis Investor Relations, 808-734-3480, or fax, 808-732-4182, for EIF Holdings/


CO: EIF Holdings Inc.; Caribbean Riviera Resorts Inc. ST: Hawaii IN: LEI SU: TNM

EH -- LA018 -- 9575 01/27/93 11:13 EST
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Publication:PR Newswire
Date:Jan 27, 1993
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