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,  July 14,  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,  August 1, 2005. The offer was previously  scheduled to
expire at 5:00 p.m.,  Los  Angeles  time,  on  Monday,  July 18,  2005.  Everest
reported that approximately 285 units have been deposited to date in response to
the offer.