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AmeriVestors, Inc. Executes Letter of Intent to Acquire Interest in Kendrick Madison Custom Homes.

HOUSTON -- AmeriVestors, Inc. (Pink Sheets:AMIV), a diversified real estate corporation, is pleased to announce the company has entered into a Letter of Intent to acquire an interest in Houston-based Kendrick Madison Custom Homes. Pending due diligence and negotiated terms presented to each company's board of Directors, the transaction is anticipated to close by December 31, 2004.

Kendrick Madison Custom Homes has developed several custom home sites as well as several key subdivisions throughout the city of Houston and its surrounding areas. Kendrick Madison's management has developed and utilized unique strategies that have established close relationships to 5-Star building and developing companies as well as mortgage bankers. These relationships have been key in the purchasing and financing of properties.

About AmeriVestors, Inc.

AmeriVestors, Inc. is a diversified real estate corporation. The company's primary focus is on recently foreclosed homes; properties no longer wanted by owners, rehabilitation of homes and vacant land for sale for the development of affordable housing. The Company purchases, rehabilitates and sells properties to the clients generated by the Company's "Homes for America" program. AmeriVestors' "Homes for America" program assists families in the purchase of a new home by offering down payment assistance through FHA approved down payment gift provider - "AmeriDream." Simultaneously the Company seeks and pursues investment opportunities for vacant land to build affordable home development projects. For more information visit the company's website -

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued testing of the Company's formulations, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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Publication:Business Wire
Date:Dec 9, 2004
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