We consider the problem of finding two parallel rectangles, in arbitrary orientation, covering a given set of n points in a plane, such that the area of the larger rectangle is minimized. We give a simple algorithm that solves the problem in O(n3) time using O(n2) space. Without altering the complexity, the algorithm can be modified to solve another optimization problem, namely, minimize the sum of the areas of two arbitrarily oriented parallel rectangles covering a given set of points in a plane. Key words: Algorithms, Computational Geometry, Covering, Optimization, Rectangles.