EVEREST  PROPERTIES  II, LLC
199 S. Los Robles  Avenue,  Suite 200
Pasadena,  CA 91101

CONTACT:  Chris  Davis or Stacey  McClain  of Everest  Properties  II, LLC
          (626)585-5920


FOR IMMEDIATE RELEASE


     PASADENA,  CALIFORNIA,  June 30,  2005 - Everest  Properties  II, LLC today
announced that it has extended the  expiration  date of its  outstanding  tender
offer for limited partnership interests in American Republic Realty Fund I, L.P.
The  expiration  date for the tender offer has been  extended to 5:00 p.m.,  Los
Angeles time, on Monday,  July 18, 2005. The offer was  previously  scheduled to
expire at 5:00 p.m., Los Angeles time, on Friday, July 8, 2005. Everest reported
that  approximately  223 units have been  deposited  to date in  response to the
offer.