VANCOUVER, British Columbia, June 13 /PRNewswire-FirstCall/ -- Rancho Santa Monica Developments, Inc., (OTC Bulletin Board: RSDV), ('the Company'), has retracted its previous announcement to state that it has signed a letter of intent with the Onni Group of Companies. The Company has in fact signed a letter of intent to build, joint venture and develop the hotel site in Vancouver with Nick De Cotiis of the De Cotiis Family and not with the Onni Group of Companies.

The Onni Group has not entered into any agreement nor entered into or entertained any discussions surrounding the project described in the press release. Onni has no association with Rancho Santa Monica Developments Inc. and the press release was issued in error by the Company.

Legal Notice Regarding Forward-Looking Statements: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain '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. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected result.

SOURCE Rancho Santa Monica Developments, Inc.