Boston, MA, March 11, 2008

Intercontinental Announces the Appointment of Sharlene Ward to Property Accountant

Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development and management firm headquartered in Boston, MA, announced the appointment of Sharlene Ward to Property Accountant in Intercontinental’s Finance and Accounting Group.

As Property Accountant, Ms. Ward will be responsible for assisting the Fund Controller for U.S. Real Estate Investment Fund, LLC (“US REIF”) in preparing quarterly and year-end Fund financial statements and supporting work papers.  In this role, Ms. Ward will be responsible for maintaining and reconciling general ledgers; conducting routine internal audits; and acting as a liaison between third party independent auditors.

Prior to joining Intercontinental, Ms. Ward worked as a Senior Property Accountant for Carpenter and Company, Inc. based in Cambridge, MA.  In this role, she developed annual budgets for third party managed retail properties; abstracted leases for rent roll; maintained corporate books; compiled year end packages; and provided assistance for tax preparers.  Previously, Ms. Ward worked as a Property Accountant for ELV Associates, Inc., where she was responsible for reporting and budgeting for a portfolio of entities which involved managing and coordinating monthly and quarterly reporting; preparing annual budgets and reforecasts; performing extensive account analysis; and processing journal entries, accounts payable, and accounts receivable.  Ms. Ward has also held positions at Mediate Management Company, Raymond Property Company, and Congress Construction Management, Inc.. Ms. Ward earned her BSBA from Suffolk University.

Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management, and asset management. The company has developed, managed and owned over $4 billion in real property assets across all property types including commercial, mixed use, hotel, recreational and residential projects.  Presently, Intercontinental owns and manages a portfolio in excess of $2 billion for its clients and is actively seeking opportunities to invest in core, core plus as well as value oriented development projects.