Marina Del Rey, CA, February 21, 2000 (PRIMEZONE) -- Calprop Corporation (OTCBB:CLPO) shares have been recommended in an analyst report just released by WallStreet Research, a prominent research boutique led by Alan Stone, Managing Director of Alan Stone & Company, LLC. Mr. Stone was formerly an analyst and assistant portfolio manager at Merrill Lynch Asset Management and securities analyst at Prudential Insurance Company's Capital Markets Group.
WallStreet Research specializes in the microcap and smallcap investment arena, looking for emerging growth companies with strong management, unique or proprietary technology, significant market potential, financial strength, and outstanding long-term earnings growth possibilities. The report on Cell Robotics International, Inc. is available, together with additional information about WallStreet Research, at www.WallSt-Research.com.
Calprop Corporation, headquartered in Marina del Rey, California, is an established residential real estate development company. The Company designs, builds and markets quality affordable apartments, townhomes and detached single family homes for the expanding middle income bracket market. Concentrating on key suburban and surrounding metropolitan areas in California and Colorado, the Company has been able to identify, survey, research and acquire real estate in target territories that support new housing starts and other residential developments. Calprop owns approximately 1,100 real estate lots in various stages of development throughout the western and southwestern regions of the United States, which are growing in population and wealth. As of September 1999, the Company reported real estate assets at a carrying value of $65 million, which the management believes to be worth considerably more on the market. Trading under the symbol CLPO, the Company is well positioned to appreciate in value as the demand for housing increases.
Additional information on Calprop Corp.'s properties is available on the company's Web site at www.calprop.com or in the WallStreet Research report at www.WallSt-Research.com.
As a cautionary note to investors, certain matters discussed in this news release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions, general competitive factors, the company's ability to execute its service and product sales plans and the risks described from time to time in the company's Securities and Exchange Commission filings.