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RUBIDELL RECREATION CONCLUDES THREE YEAR BUSINESS PLAN

 RUBIDELL RECREATION CONCLUDES THREE YEAR BUSINESS PLAN
 ELKHORN, Wis., Feb. 5 /PRNewswire/ -- The following was released


this morning by Rubidell Recreation, Inc. President John. J. Pilger:
 The company has just successfully completed a tough three year business plan whereby we have exited the capital intensive real estate development business. In doing so, we have paid off approximately $7,000,000 in debt. We have accomplished this by selling our unprofitable and cash negative real estate projects and related assets. These sales were listed as subsequent events and footnoted in our 1991 Audit Report, sent to shareholders on Jan. 31, 1992.
 In effect, the company has completed a transition from that of being a speculative real estate developer to that of being a direct marketer of real estate products offered by third parties. This business involves the company offering to other real estate developers a lead generation system. The company is presently under contract to provide prospects to eight projects and is presently negotiating to add three more projects in California.
 In addition, we have just signed a contract with a sizable discount travel company in Fort Lauderdale, Fla. This additional contract is projected to produce net revenue to our company of approximately $500,000.
 The company's wholly owned subsidiary, Recreational Property Consultants, Inc., will start a new division this year to accommodate construction management services with a large Minnesota based entertainment company.
 We believe that 1992 and beyond will prove to be profitable. Based upon the unaudited first quarter results, revenues for the first quarter of 1992 have increased to $1,800,000, compared to first quarter revenues of $800,000 in fiscal 1991. This is an increase of 225 percent. Historically our first quarter is always our weakest quarter, due to the seasonality of the developments we serve.
 In conclusion, based upon our estimate of the current business opportunities available to the company, we are estimating gross revenues of approximately $8,000,000 in 1992. This will continue to be a developmental year for the company's new direct marketing, management and consulting business. Respectfully submitted, RUBIDELL RECREATION, INC. John J. Pilger, president
 -0- 2/5/92
 /CONTACT: John J. Pilger, president of Rubidell Recreation, 414-723-6660/ CO: Rubidell Recreation, Inc. ST: Wisconsin IN: SU:


AL -- MN002 -- 7024 02/05/92 08:55 EST
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Publication:PR Newswire
Date:Feb 5, 1992
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