February 22, 2007

Intercontinental Real Estate Corporation Appoints Megan Pybus to Performance Reporting Analyst

Ms. Pybus’ primary responsibilities include the analysis of and reporting for Intercontinental’s real estate holdings performance data. Ms. Pybus is also responsible for computing the internal rates of returns and net asset values (NAVS), cash flow projections, as well as Quarterly Investor Performance Reports. In addition, she assists Intercontinental’s Institutional Equity team in completing performance measurement and statistical information for current and prospective clients.

Prior to joining Intercontinental, Ms. Pybus worked as a real estate Portfolio Accountant and Analyst at TA Realty Associates.  She was responsible for quarter end close, analysis, and distribution of financial reporting on four separate real estate investment portfolios totaling $1.5 Billion and 55 properties.  Previously, Ms. Pybus was a Portfolio Accountant for Emerging Markets Management, an investment firm dedicated exclusively to the management of emerging markets equities, located in Arlington, VA.  She was responsible for the review and reconciliation of custodial records.  Ms. Pybus also worked as a Portfolio Accountant at State Street Bank in Boston, MA.

Ms. Pybus earned her B.S. in Finance with a minor in Business Communications from Bentley College.

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 manages a portfolio in excess of $1.6 billion for its clients and is actively seeking opportunities to invest in core enhanced properties and value oriented development projects.