PATRINELY GROUP RECEIVES SITE PLAN APPROVAL FOR TRILLIUM BETHESDA

Project brings luxury condominiums to 8400 Wisconsin Avenue

Bethesda, Md. (July 10, 2006) - Patrinely Group announced today that site plan approval has been granted for Trillium Bethesda, a project featuring 173 luxury condominiums located at the gateway to downtown Bethesda.

While Patrinely Group has been active in the Washington, D.C., real estate market for the past decade, Trillium Bethesda will be the firm's first residential project in the area. The design architect for Trillium Bethesda is Davis Carter Scott, Ltd. Sales are expected to begin this fall.

About Patrinely Group: Patrinely Group LLC has been actively developing real estate since 1983. The firm's residential and office projects incorporate sophisticated building technology and the highest quality in design details. The company prides itself on creating buildings that are both elegant and function at the highest level of efficiency. In the past 20 years, the team has completed more than $2 billion of some of the most respected and successful properties in the nation and has nearly $1 billion currently under development.

A leader in luxury residential development, the firm selectively creates condominiums in premier "18-hour" communities and resort areas. It strives to develop the finest residences available in each market, creating a lush resort-style way of living where residents enjoy dining, shopping and entertainment all within walking distance.