Exhibit 99.1


                             FOR IMMEDIATE RELEASE

  STRATFORD AMERICAN CORPORATION ANNOUNCES PURCHASE OF OIL AND GAS PROPERTIES


     PHOENIX,  Ariz.  -  (BUSINESS  WIRE) - June 7,  2002 -  Stratford  American
Corporation  (OTC Bulletin  Board:  STFA) today announced that it's wholly owned
subsidiary,   Stratford  American  Energy  Corporation,   has  acquired  working
interests in 23 oil and gas properties  located in Oklahoma and Texas  effective
as of April 1, 2002 in exchange for $738,000 in cash. The transaction  closed on
June 5, 2002. The Company  anticipates  revenues from the newly acquired working
interests in the oil and gas  properties  to be  approximately  $300,000 for the
first full year of  production.  In  addition to the  working  interests  in the
properties  acquired,  the Company has agreed to participate on a  proportionate
basis in the drilling of a development well on one of the properties acquired.

     On April 19, 2001 Stratford  American  Corporation  had acquired SA Oil and
Gas Corporation,  a privately held oil & gas company that owns working interests
and/or  royalty  interests  in oil and gas  properties  located in Oklahoma  and
Texas.

     Stratford   American   Corporation   owns  a  17.5%  interest  in  Raintree
Development,  which holds approximately 10 acres of real property in Scottsdale,
Arizona, for office development.

     The  Company  plans  to  continue  to  acquire  oil,  gas and  real  estate
properties that generate cash flow and net income on a long-term basis.

Contact: Stratford American Corporation
         Mel Shultz (602) 956-7809

SAFE HARBOR STATEMENT:

     Certain  statements   contained  in  this  release,   including  statements
regarding the Company's  plan to acquire new unrelated  business  opportunities,
constitute "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the  Securities  Exchange Act of 1934.
Such forward-looking  statements involve known and unknown risks,  uncertainties
and other factors that may cause the actual  results to be materially  different
from the forward-looking  statements.  Such factors include, among other things:
the fact  that the  Company  has no  significant  operations;  the risk that the
Company will not be able to complete  additional  acquisitions  to  re-establish
significant  operations;  the risk that the Company's acquisitions of SA Oil and
Gas Corporation may not be profitable;  the risk that the newly acquired working
interests will not be profitable;  and other risks detailed from time to time in
the Company's filings with the Securities and Exchange Commission.