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GAITHERSBURG, MD (April 12, 2001) -- The AmeriDream Charity, Inc., is pleased to announce that its first art auction will be held on May 2, 2001, from 6:00 p.m.-10:00 p.m., at the Bohrer Park Activity Center in Gaithersburg, Md. The organization is hosting this event to introduce The AmeriDream Charity to the local community. The Charity, which was founded in February 1999, was set up to expand homeownership opportunities for underserved groups. Since its inception, AmeriDream has developed several programs to help expand its mission:

The AmeriDream Downpayment Gift Program helps low to moderate-income homebuyers become homeowners by providing down payment assistance in the form of gift funds. To date, we have helped more than 17,000 individuals and families become homeowners.

The AmeriDream Redevelopment Program provides us with a mechanism to turn distressed properties into habitable residences, which we then resell at affordable prices to low- and moderate-income homebuyers.

Door prizes will be awarded. Coffee and catered refreshments will be served. Local artists will be featured, and all donations are tax deductible.

Tickets are available in advance and at the door.

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The mission of The AmeriDream Charity, Inc., is to expand homeownership opportunities for underserved groups through the direct provision of downpayment assistance and through the restoration and development of communities. A 501(c)(3) organization, The AmeriDream Charity, Inc. meets HUD requirements for FHA insured loans as a charitable organization. In addition to The AmeriDream Downpayment Gift Program, the Charity also operates The AmeriDream Redevelopment Program in the Washington, DC, area, which focuses on rehabilitating properties and returning them to the market at affordable prices; and is on track to donate over $600,000 by the end of 2001 to a range of community organizations including Habitat for Humanity and the American Red Cross.