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,  August 1, 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 Tuesday,  August 9, 2005. The offer was previously scheduled to
expire at 5:00  p.m.,  Los  Angeles  time,  on Monday,  August 1, 2005.  Everest
reported that approximately 410 units have been deposited to date in response to
the offer.