Press Release
For Immediate Release
October, 2002

Troxler Closes Woodlands - Capacity For Over One Million Square Feet Of Retail

Woodland Hills, Calif., October, 2002 - Troxler, a California based firm specializing in providing joint venture equity for commercial, industrial, hospitality, residential, land entitlements and development, announces the acquisition of the Woodlands in Nipomo, California, with joint venture partner, JHS Development.

The master planned community will include 1,320 residences, two 18-hole golf courses and one nine hole executive golf course, a hotel-resort site and four parks. Additionally the plan calls for an 11 acre Monarch butterfly preserve and 22 acres of commercial development with the capacity for over one million square feet of retail-industrial development.

Troxler, a division of The Troxler Group of Companies, is an innovator in the industry having successfully created a unique branded platform of operating in specific opportunistic segments of the real estate market throughout the Western United States. We have invested in projects with terminal values in excess of $7 billion and continue to demonstrate our ability to partner with our clients across cycles and to deliver consistent returns.

Troxler serves the financial needs of corporations, institutional clients and high-net-worth individuals. Since our beginning in 1990, we have maintained leadership positions in equity in investment banking, private equity and wealth and asset management services. For more information, visit our Web site at www.troxler.com.