General Ventures To Convert LOI to Acquisition Agreement

$5.4 Million Commercial Land Development and Supermarket Acquisition

Fresno, CA (PRWEB) June 25, 2005 -- General Ventures, Inc., (GVI) (OP GVSI) has acquired one hundred percent of the Membership Interests of Kettlemen City Commercial, LLC. (KCC) and after completion of the Audit of KCCs financials, it will operate as a fully owned subsidiary of GVI, (OP GVSI) a Commercial real estate development strategically located at the intersection of Interest 5 and Highway 41, in Kettleman City, California. The Membership Interests were acquired for 15,000,000 shares of GVI, currently trading at 7.5 cents bid, 9 cents ask, per share. The property is encumbered, with a fist Mortgage of five hundred thousand dollars ($500,000.000, and a second mortgage of $1,325,000. The second mortgage will be paid off with shares, to the Note Holders, California City Properties, an LLC whose sole owner is Marlene Faridi, a director of GVI and wife of GVIs CEO, Tariq Faridi.

Last year, KCC was granted a will serve letter", which is a Water Permit for building a Truck Stop, a Mini-Mart, a restaurant and a Gourmet Coffee shop, in the next 12 months, followed by an 84 Room Holiday Inn Express and Suites, in the 12 months that follow. The Permit will be renewed.

Commenting on the acquisition, Tariq J. Faridi, President and Chief Executive Officer stated, This 23.74 acres is strategically located Midpoint between Los Angeles and San Francisco, and will serve as a Travelers Haven, the name KCC intends to give to this project."

Its proximity to 7 fast food restaurants, an adjacent RV Park and 5 Gas Stations, assures us of sufficient customers and therefore and excellent source of revenues for GVI.

Mr. Faridi continued, GVI was able to utilize the influence of its Architects, Integrated Designs to obtain the will serve Letter (water permit), in spite of a water permit moratorium. KCC has also negotiated a Letter Of Interest with Holiday Inn Express for an 84 room Hotel."

General Ventures, Inc., located in Fresno, California and traded on the pinksheets (GVSI), Intends to become a fully integrated real estate developed company that will acquire land and develop, redevelop, and manage Commercial, Residential and Industrial subdivisions in the West Coast, initially and nationwide, eventually.

Additional information about the proposed Travelers Haven in Kettleman City, can be found on the Companys web site at www.faridigroup.com. If you would like to receive future press releases via e-mail-please send a request to tariq@faridigroup.com

Forward looking statement -- The statements which are not historical facts contained in this release such as the Companys beliefs and expectations regarding the Travelers Haven, are forward looking statements that involve risks and uncertainties, which could cause actual results to be different than such forward looking statement including, but not limited, to unexpected changes in the Travelers traveling habits, unexpected changes in demand for the products and services Travelers Haven intends to offer, and risks that will be detailed in the Companys Securities and Exchange Commission filings. All forward-looking statements are made as of today, and the Company assumes no obligation to update this information. For more details relating to risk and uncertainties that could cause actual results to differ materially from those anticipated in our forward-looking statements, and risks to our business in general, please refer to our future SEC filings. The company has no requirements since its shares are currently traded on the pinksheets., including our future anticipated Report on Form 10-K for the year ended December 31, 2004. and Form 10-Q for the period ending, March 31. 2005

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