PLYMOUTH, Minn., Feb. 4, 2005 (PRIMEZONE) -- Heartland, Inc. (OTCBB:HTLJ) this week announced the acquisition of Monarch Homes of Ramsey, Minn. Monarch is a builder of new homes in communities in the northern and northwest suburbs of the Minneapolis / St. Paul metropolitan area of Minnesota. This acquisition was completed in December 2004.
Based upon unaudited financial records of Monarch Homes, Monarch had revenues of approximately $25 million for the 12 months ended Dec. 31, 2004, under the leadership of President Brad Fitch. With years of architectural and building experience, Fitch exclusively uses specially selected contractors who share the commitment to high-quality craftsmanship in each and every home built.
Monarch Homes offers a wide variety of floor plans and home designs to both first-time buyers and home buyers who want larger homes for their families. Floor plans and designs accommodate the unique lifestyles and needs of every family. In addition to its current offerings, Monarch Homes also delivers custom built homes designed around the needs of each specific family.
"Monarch Homes expands Heartland's portfolio by moving it into the rapidly growing housing market," said Trent Sommerville, CEO of Heartland. "There is a tremendous demand for new housing in the United States, and Monarch Homes is the first entry into that market for Heartland."
About Heartland, Inc.
(http://www.heartlandholdingsinc.com)
Heartland, Inc. is a growing diversified holding company comprised of subsidiaries within several different and distinct industry segments. Revenue for the first nine months in 2004 was $5.7 million with a net income of $127,000. However, due to several acquisitions which were completed in the last quarter of 2004 and pro forma for the completion of those transactions, Heartland's performance for the twelve months ended Dec. 31, 2004, would reflect approximately $50 million in sales and over $2 million in profits.
From heavy machining and fabricated steel products to specialized machinery to organic fertilizers and mulch, to commercial construction and builders of new homes, Heartland, Inc. is developing broad product and service offerings to provide economic protection and growth opportunities for investors.
More information is available by calling 612-554-8419, by faxing 952-487-6450 or by sending e-mail to info@heartlandholdingsinc.com.
Forward-Looking Statements
Investors are cautioned that certain statements contained in this document as well as some statements in periodic reports and press releases as well as some oral statements of Heartland, Inc. officials made during presentations about Heartland Inc. are considered to be "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include the words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are all forward -looking statements as defined by the Act. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties and assumptions about Heartland Inc., its products, economic and market factors and the industries in which Heartland Inc. does business, among other things. These statements are not guarantees of future performance and Heartland Inc. has no specific intention to update these statements. More detailed information about those factors is contained in Heartland Inc. filings with the Securities and Exchange Commission.
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