FINVARB GROUP NEWS 2004

• FINVARB GROUP ANNOUNCES PLANS TO DEVELOP A 198-ROOM SPRINGHILL SUITES BY MARRIOTT HOTEL IN MIAMI, FL.
Miami, Fl. - November 7, 2007 ­ Miami-based Finvarb Group acquired a 1.4 acre site within the Miami Health District submarket of Miami, Florida for the purpose of constructing an 198-room Springhill Suites by Marriott hotel. Groundbreaking for this project is expected in May 2008.

• FINVARB GROUP ANNOUNCES GROUNDBREAKING FOR A 208-ROOM RESIDENCE BY MARRIOTT HOTEL IN PHOENIX, AZ.
Phoenix, AZ. - October 25, 2007 - Miami-based Finvarb Group commenced construction of a 208-room Residence Inn by Marriott Hotel in Phoenix, AZ. The hotel is located on the 210-acre campus of the Mayo Clinic Hospital. The hotel is scheduled to open for business in January 2009.

• FINVARB GROUP ANNOUNCES GROUNDBREAKING FOR A 218-ROOM COURTYARD BY MARRIOTT HOTEL IN WASHINGTON, D.C.
Washington, D.C. - July 11, 2007 - Miami-based Finvarb Group commenced construction of a 218-room Courtyard by Marriott Hotel in Washington, D.C. Mayor Adrian M. Fenty joined the Finvarb Group, as well as, Marriott International and the Hispanic Hotel Owners Association in the ground-breaking of the city's first Hispanic-owned Marriott Hotel. The hotel is set to open in 2009 in the NoMA (North of Mass Ave) business district of Capitol Hill.

• FINVARB GROUP ANNOUNCES PLANS TO DEVELOP A 170-ROOM RESIDENCE INN BY MARRIOTT HOTEL IN TEMPE, AZ.
Tempe, AZ. - July 2007 ­ Miami-based Finvarb Group has closed on the acquisition of land in Tempe, Arizona for the purpose of constructing a 170-room Residence Inn by Marriott hotel. Groundbreaking for this project is expected in the Fall of 2008.

• FINVARB GROUP ANNOUNCES APPROVAL FROM BOARD OF TRUSTEES OF MAYO CLINIC OF ITS PLAN TO DEVELOP A 208-ROOM RESIDENCE INN BY MARRIOTT HOTEL ON THE CAMPUS OF THE MAYO CLINIC IN PHOENIX, AZ
Phoenix, AZ. - February 2, 2007 - Miami-based Finvarb Group has announced the approval by the Mayo Clinic Board of Trustees of its plans to develop a 208-room Residence Inn by Marriott Hotel on the Campus of the Mayo Clinic in Phoenix, AZ. Construction of this 208-room Residence Inn by Marriott hotel is expected to commence in October 2007. The hotel is situated on the campus of the Mayo Clinic in the Desert Ridge Submarket of the northeast Phoenix metropolitan area. The 210-acre Mayo campus is intended to be developed with 5,900,000 square feet of inpatient, diagnostic, hospitality, research, education, administration, service and housing facilities servicing Mayo. The hotel is scheduled to open for business in the Winter of 2008.

• FINVARB GROUP ANNOUNCES GROUNDBREAKING FOR A 134-ROOM RESIDENCE INN BY MARRIOTT HOTEL IN MELBOURNE, FLORIDA
Melbourne, Florida - January 8, 2007 - Miami-based Finvarb Group commenced construction of a 134-room Residence Inn by Marriott Hotel in Melbourne, Florida. The hotel is located within the City of Melbourne in east central Florida, also known as Florida's Space Coast. The economy of Melbourne is diversified with defense-related service, technological, manufacturing and tourism industries and is one of the most underserved hotel markets in Florida. The hotel is scheduled to open for business in January 2008.

• FINVARB GROUP ANNOUNCES PLANS TO DEVELOP A 218-ROOM MARRIOTT COURTYARD HOTEL IN DOWNTOWN WASHINGTON, DC
Washington, D.C. - December 15, 2006 - Miami-based Finvarb Group has closed on the acquisition of land in Washington, DC for the development of a 218-room Marriott Courtyard Hotel. This project will also include 10,000 square feet of retail space that will be developed as shops and restaurants. Construction of this Courtyard by Marriott hotel is scheduled to commence in August 2007. The hotel is located within the Capitol Hill submarket of Washington, D.C adjacent to the New York Avenue Metro Station. The New York Avenue Metro station is located one stop north of Union Station and is surrounded by the headquarter buildings of the Bureau Alcohol, Tobacco and Firearms (ATF) and Securities and Exchange Commission (SEC). The hotel is scheduled to open for business in March 2009.

• FINVARB GROUP OPENS 135-ROOM RESIDENCE INN BY MARRIOTT HOTEL IN TALLAHASSEE (TALLAHASSEE UNIVERSITIES AT THE CAPITOL), FLORIDA
Tallahassee, Florida - December 15, 2006 - Miami-based Finvarb Group opened the 135-room Residence Inn by Marriott Hotel in Tallahassee, Florida, which includes 5,000 feet of meeting space and 5,000 feet of prime retail space for shops and restaurants. This project will serve as the first building block for the Gaines Street revitalization. The hotel is located in the heart of downtown Tallahassee and within walking distance to Florida State University, Florida A&M University, the State Capitol Complex, the Tallahassee-Leon County Civic Center, Doak Campbell Stadium, and many City, State, County and Federal Offices/Courthouses.

• FINVARB GROUP ANNOUNCES GROUNDBREAKING FOR A 17-STORY 220- ROOM MARRIOTT COURTYARD HOTEL ON THE SAN ANTONIO RIVERWALK
San Antonio, Texas - October 30, 2006 - Miami-based Finvarb Group commenced construction of a 17-story 220-room Marriott Courtyard Hotel on the San Antonio Riverwalk. The hotel is located within walking distance of the San Antonio Convention Center and is at the doorstep of the Riverwalk that offers numerous historical, cultural and culinary experiences to its visitors. The hotel is scheduled to open for business in the Summer of 2008.

• FINVARB GROUP ANNOUNCES SALE OF 123-ROOM RESIDENCE INN BY MARRIOTT HOTEL IN CHANTILLY (DULLES AIRPORT SOUTH), VIRGINIA
Chantilly, VA - September 15, 2006 - Miami-based Finvarb Group sold its Residence Inn by Marriott hotel in Chantilly, VA to Oxford Chantilly, an affiliate of Chicago-based Oxford Capital Group.

• FINVARB GROUP ANNOUNCES ACQUISITION OF 20+ ACRES OF LAND IN LAS VEGAS, NV
Las Vegas, Nevada - August 15, 2005 - Miami-based Finvarb Group acquired over 20 acres of land, in four separate parcels, off the Strip in Las Vegas, NV. The Company is in the process of devising its development plans for the properties which are expected to contain hotel, residential, retail and gaming components.

• FINVARB GROUP OPENS 123-ROOM RESIDENCE INN BY MARRIOTT HOTEL IN CHANTILLY (DULLES AIRPORT SOUTH), VIRGINIA
Chantilly, Virginia - May 23, 2005 - Miami-based Finvarb Group opened the 123-room Residence Inn by Marriott Hotel in Chantilly, one of the hottest hotel markets in the nation. Chantilly is home to the National Reconnaissance Center and numerous related defense-contracting firms.

•  FINVARB GROUP OBTAINS UNANIMOUS APPROVAL FROM CITY COMMISSION OF CITY OF TALLAHASSEE TO ACQUIRE 2.25 ACRE SITE FOR DEVELOPMENT OF A 135-ROOM RESIDENCE INN BY MARRIOTT HOTEL
Tallahassee, Florida - September 8, 2004 - Miami-based Finvarb Group obtained unanimous approval from the Tallahassee City Commission for the purchase of a prime 2.25 acre lot on the northwest corner of Gaines and Railroad Avenue for the development of a 135-room Marriott Residence Inn, which will also include 11,000 square feet of retail space for shops and restaurants. This project will serve as the first building block for the Gaines Street revitalization. Construction is scheduled to commence in Spring 2005 and be completed in Spring 2006

•  FINVARB GROUP BREAKS GROUND ON 123-ROOM RESIDENCE INN BY MARRIOTT HOTEL PROJECT IN CHANTILLY (CHANTILLY DULLES), VIRGINIA
Chantilly, Virginia - May 3, 2004 - Miami-based Finvarb Group has broken ground on a 123-room Residence Inn by Marriott Hotel in Chantilly, one of the hottest hotel markets in the nation. Chantilly is home to the National Reconnaissance Center and numerous defense contracting firms. Construction is scheduled to be completed in Spring 2005

•  FINVARB GROUP OPENS 174-ROOM MARRIOTT COURTYARD- FORT LAUDERDALE AIRPORT AND CRUISEPORT HOTEL IN DANIA BEACH, FLORIDA
Dania Beach Florida Thursday March 4, 2004 - Miami-based Finvarb Group has opened the newest Marriott Courtyard Hotel in the heart of Broward County . This property will primarily serve the Fort-Lauderdale Hollywood International Airport, the fastest growing airport in the United States and Port Everglades, one of the leading passenger cruise ports in the nation. The newly opened facility is located adjacent to Outdoor World - Bass Pro Shops and offers 174 guestrooms together with three (3) distinctive meeting rooms with approximately 2,500 square feet of meeting space, designed to accommodate meetings and functions for up to 110 people