Homevestors Creates The Ken D'angelo Foundation To Support Cancer Research

August gala to honor late founder and launch fundraising for research and scholarships

DALLAS, TEXAS (Thursday, July 28, 2005) - HomeVestors of America, Inc., the company
famous for its "We Buy Ugly Houses"R billboards, today announced the
creation of The Ken D'Angelo Foundation to honor the company's late founder,
who passed away in January following a brief battle with bile duct cancer.
The foundation will kick-off its fundraising efforts with a special gala,
"The Man and The Magic," at 7 p.m., Aug. 27, at the Omni Mandalay Hotel in
Las Colinas.

"Ken D'Angelo was a remarkable man, and everyone associated with HomeVestors
has championed the creation of the foundation as the best way to honor their
friend and mentor," said John Hayes, president and CEO of HomeVestors.

The August gala will feature a Vegas-style celebration, live and silent
auction, and special tributes to D'Angelo to raise money for bile duct
cancer research and to establish a scholarship fund that will assist others
pursuing academic studies in entrepreneurship, real estate or franchising.

"Ken loved visiting Las Vegas almost as much as he loved buying and
rehabbing ugly houses and helping others," Hayes said. "What better way to
celebrate his legacy and the launch of his foundation than to bring his
family, friends and associates together for a casino-style extravaganza?"

A well-known local entrepreneur and real estate success, D'Angelo developed
award-winning real estate offices in Dallas and Houston in the 1970s and
1980s when he then decided to focus on recycling single-family houses. His
unique business formula led to the creation of HomeVestors of America, which
D'Angelo began franchising in 1996. After coining the phrase "We Buy Ugly
Houses" and establishing a nationwide billboard advertising sensation,
D'Angelo's vision and the company's growth took off. Today,

HomeVestors has more than 250 franchise locations across the United States,
and has been named the 15th fastest-growing private company on the Dallas
100T list by the SMU Cox School of Business.

Diagnosed with bile duct cancer in 2004, D'Angelo sought all available
medical treatment for the rare disease while still growing his company. He
passed away on Jan. 8, slightly more than three months after his diagnosis.
To help others in their battle against the disease, The Ken D'Angelo
Foundation will donate funds to The Mayo Foundation's bile duct cancer
research program, in Rochester, Minn.

Tickets to the "The Man and The Magic" start at $100 per person and are
available to the public. To purchase tickets or to make a donation to The
Ken D'Angelo Foundation, contact Vonda Mathews at (972) 721-0046 or visit
www.homevestors.com/kend_foundation.asp.

About HomeVestors of America, Inc.
Founded in 1989 and franchising since 1996, Dallas-based HomeVestors of
America, Inc., has 250 franchises throughout the United States. The first
franchise company of its kind, HomeVestors trains and supports franchisees
who specialize in buying homes in need of repair. Most commonly known as the
"We Buy Ugly Houses"R franchise, HomeVestors strives to make a positive
impact in each community. More information is available at
www.homevestors.com.

View all HomeVestors of America Press Releases

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