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FIRST NATIONAL REALTY ASSOCIATES INC. LISTS ON VANCOUVER STOCK EXCHANGE

 FIRST NATIONAL REALTY ASSOCIATES INC. LISTS ON
 VANCOUVER STOCK EXCHANGE
 VANCOUVER, Jan. 14 /PRNewswire/ - First National Realty Associates Inc. was posted and called for trading on the Vancouver Stock Exchange this morning, at the opening.
 First National Realty Associates, with its head office based in Atlanta, is a residential real estate brokerage company. It is part of the Exchange's Senior Board (Commercial/Industrial section) and will trade under the symbol "FNL."
 The company was formed in 1988, merged with Emphatic Mergers Inc. in 1990 and changed its name to First National Realty Associates Inc. It operates eight subsidiaries in the United States, seven of which are wholly owned and one which is owned 80 percent by the company and 20 percent by a former employee of the local company.
 Approximately 90 percent of all revenues of the company are derived from commissions received on the listing and sale of homes. The remaining revenues are derived from the commissions received on the sale of commercial real estate and land sales, the rental of homes, and the sale of retail furniture, computer software and credit life insurance.
 The company's capitalization is 25 million shares with par value of $0.001 of which 10,913,221 are issued and outstanding (only 3,050,000 common shares are currently transferable. The balance are "restricted securities" and may only be sold upon compliance with Rule 144, a doctorate of the Securities Act of 1933, as amended). No shares are held in escrow. Pacific International Securities Inc. acted as the company's sponsoring Member, and Central Guaranty Trust Company is the company's Canadian transfer agent.
 For further information, refer to the company's application for listing dated Jan. 3, 1992.
 First National Realty Associates Inc., Jay N. Torok, chief executive officer, 5447 Roswell Road, Atlanta, GA 30342, 404-250-3920.
 -0- 1/14/92
 /CONTACT: David A. Laundy of the Vancouver Stock Exchange, 604-689-3334/
 (FNL) CO: Vancouver Stock Exchange ST: British Columbia IN: SU:


JL-AL -- LA025 -- 9629 01/14/92 14:52 EST
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Publication:PR Newswire
Date:Jan 14, 1992
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