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ProGreen Resumes Further Property Sales to American Residential Gap A/S

BIRMINGHAM, MI--(Marketwire - Nov 12, 2012) - ProGreen Properties, Inc. (ProGreen), www.progreenproperties.com, ( OTCQB : PGEI ) previously announced its agreement with a Danish Investment Company, American Residential Gap A/S (ARG), based on ARG acquiring fully managed investment properties from ProGreen. The first sale was completed in April 2012. ProGreen expected further sales this year and we are now able to announce that ARG has commenced a second round of acquisitions from ProGreen, with a smaller deal already completed. 

"We feel confident that further acquisitions will follow within the very near future, with ARG planning to increase their US property holdings over the coming months with further investment properties acquired from ProGreen," says Jan Telander, CEO.

This press release contains statements, which may constitute 'forward-looking statements' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. 'Forward-looking statements' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.