ProGreen Properties, Inc. Engages New Audit Firm

BIRMINGHAM, Mich., Sept. 1 /PRNewswire/ -- ProGreen Properties, Inc. (OTC Bulletin Board: PGEI) yesterday announced with an 8-K filing, that on August 27, 2010, the Board of Directors of the Company approved the appointment of Baker Tilly Virchow Krause, LLP as the Registrant's independent registered public accounting firm the Company's fiscal year ending April 30, 2011.

Jan Telander, the Company's Chief Executive Officer stated: "Our Board of Directors  believes that the appointment of Baker Tilly Virchow Krause, LLP to audit our consolidated financial statements for the fiscal year ending April 30, 2011, and thereafter, is in the best interests of the Company and its  shareholders at this point in the development of our business."

ProGreen Properties is a young company (2009) based in Birmingham, Michigan. ProGreen is engaged in the business of acquiring, refurbishing and upgrading potential income-producing residential real estate. ProGreen believes that Michigan offers some of the best investment opportunities in the presently distressed US property market.

This press release contains statements, which may constitute 'forward-looking statements' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. 'Forward-looking statements' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated. Such factors include; our ability to create, sustain, manage or forecast our growth; our ability to attract and retain key personnel; changes in our business strategy or development plans; competition; business disruptions; adverse publicity; and international, national and local general economic and market conditions.

SOURCE ProGreen Properties Inc.