BOZZUTO DEVELOPMENT COMPANY PROMOTES JEFF KAYCE

Greenbelt, MD...Bozzuto Development Company has announced the promotion of Jeff Kayce to Development Manager.

In his new position, Mr. Kayce assumes responsibility for expanding joint venture development opportunities for the company within the greater Washington/Baltimore metropolitan region. He will also be involved in managing the development process for new apartment communities from the preliminary financing feasibility through construction and lease-up. Mr. Kayce joined Bozzuto Development Company in 2004 and previously held the position of Development Associate.

"Jeff's commitment and dedication have earned him the respect of our entire team," said Toby Bozzuto, Executive Vice President of Bozzuto Development Company. "We know he will continue to be successful as he takes on these new responsibilities."

Mr. Kayce has a Bachelor of Science degree in Architecture from the University of Maryland, College Park. He is a member of the Baltimore Chapter of the Urban Land Institute.

Active in both urban and suburban locations throughout the Mid-Atlantic and Northeast regions, Bozzuto Development Company provides development services for third party owners as well as for its own account. Projects include high-rise, mid-rise, and garden-style apartment communities as well as mixed-use developments. The recipient of numerous honors and awards for excellence, including the national Pillars of the Industry Award for Multifamily Development Firm of the Year in 2003, Bozzuto Development Company is one of The Bozzuto Group real estate companies. For more information on Bozzuto Development Company or The Bozzuto Group of companies, please visit www.bozzuto.com.