LA JOLLA, Calif., Aug. 22 /PRNewswire-FirstCall/ -- PICO Holdings, Inc. announced today that its wholly-owned subsidiary, Nevada Land and Resource Company has closed a previously announced transaction with a third party to sell one of its properties in northern Nevada -- the Spring Valley Ranch and related water assets -- for $22 million. It is estimated that as a result of this sale Nevada Land will realize a gain of approximately $17 million before taxes in the third quarter of 2006.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of securities law. These include, but are not limited to, statements about the Company's operations and our future expectations. These statements reflect our current views about future events which could affect our financial performance. Although we aim to promptly disclose any new development which will have a material effect on PICO, we do not undertake to update all forward-looking statements. You should not place undue reliance on forward- looking statements because they are subject to various risks and uncertainties (including those listed under "Risk Factors" and elsewhere in our SEC filings) which could cause actual results to differ materially from such forward- looking statements or from our past results.
