Boston, MA, September 18, 2007

Intercontinental Real Estate Corporation Appoints A.J. Bowman to Associate, Acquisitions

Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development and management firm headquartered in Boston, MA, announced the appointment of A.J. Bowman  to Associate, Acquisitions.

Mr. Bowman is responsible for assisting in the analysis, due diligence, and closing of Intercontinental’s acquisitions.  Prior to joining Intercontinental, Mr. Bowman worked as a Senior Analyst for Sterling Equities.  In this role, he underwrote and valued multi-family and office investment opportunities for a $600 million discretionary real estate fund.  He was also responsible for conducting property-specific market and return analyses including IRR, NPV, Capitalization Rate, and ROE valuation metrics.  Mr. Bowman coordinated the due diligence process for assets under contract and analyzed properties under management to determine the optimal hold/sell strategy.  Mr. Bowman also held positions at Dresdner RCM Global Investors in San Francisco, CA and State Street Bank in Boston, MA.

Mr. Bowman earned his BA in Environmental Science and Policy from Duke University and his Masters in Science in Real Estate Development with a concentration in Real Estate Finance and Investment from New York 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 $1.8 billion for its clients and is actively seeking opportunities to invest in core, core plus as well as value oriented development projects.

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