Palomar Enterprises, Inc., Announces the Purchase of $ 1,400,000.00 Office Building

Palomar Enterprises, Inc., Announces the Purchase of $
1,400,000.00 Office Building 


CARSON CITY, Nev., June 21  /PRNewswire-FirstCall/ -- Palomar Enterprises,
Inc., (OTC:PALL) (BULLETIN BOARD: PALL)  has successfully exercised the option
to purchase the office complex located at 2850 Pio Pico Drive in Carlsbad, CA.
The purchase price of the property is $ 1,400,000.00.

The property adds an immediate $ 400,000.00+ net asset to the company balance
sheet.  In addition, the property is a revenue source as well.  The company
will be doing extensive renovation of the lower portion of the property and
will be moving its entire real estate, mortgage and home loan and properties
groups to the facility.  When the renovation is completed, the facility will be
a state-of-art real estate sales office.  (For more information:
http://www.thepalomargroup.com/ ).

In conjunction with the purchase of this office complex, the company also
announces it has completed a 100 to 1 reverse split of its outstanding shares.
The company now trades under the symbol:  PALL.

The 2850 Pio Pico facility is the second of several planned real estate
acquisitions.  The company has set forth as a principle part of its planned
operations, to provide long term value through asset acquisitions, rental
income and revenue generating core businesses.

From time to time, the Company may issue news releases that contain
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934,
and is subject to the safe harbor created by those sections.  This material may
contain statements about expected future events and/or financial results that
are forward-looking in nature and subject to risks and uncertainties. For those
statements, the Company claims the protection of the safe harbor for
forward-looking statement provisions contained in the Private Securities
Litigation Reform Act of 1995 and any amendments thereto.  Any statements that
express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, goals, assumptions, or future events
or performance are not statements of historical fact and may be "forward-
looking statements."  "Forward-looking statements" are based upon expectations,
estimates and projections at the time the statements are made that involve a
number of risks and uncertainties that could cause actual results or events to
differ materially from those anticipated. 

DATASOURCE: Palomar Enterprises, Inc.



CONTACT:  EquitilinkPR, 1-877-788-1940, or

, for Palomar Enterprises, Inc.



Web site:  http://www.thepalomargroup.com/ 

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