THE BOZZUTO GROUP, OSPREY PROPERTY COMPANY
AND RELIABLE CONTRACTING COMPANY
SELECTED TO DEVELOP ODENTON MARC SITE

New Transit-Oriented Town Center Valued at Approximately $150 Million

Greenbelt , Maryland ….. A team of developers comprised of The Bozzuto Group, Osprey Property Company and Reliable Contracting Company has been selected to transform a 24-acre parcel located adjacent to the Odenton MARC station, the third busiest in the MARC system, into a vibrant, transit-oriented town center. The project is valued at approximately $150 million.

The selection of the Bozzuto-Osprey-Reliable team was announced at a press conference hosted by Governor Robert Ehrlich, Secretary Robert Flanagan of Maryland's Department of Transportation, and Anne Arundel County Executive Janet Owens.

Expected to begin construction in Fall 2008, the mixed-use development will ultimately encompass approximately 415 apartments; 96 condominiums; 250 town homes; five single-family homes; 60 units dedicated to affordable housing for seniors; a hotel; approximately 74,000 square feet of retail space; two parking garages for MARC commuters (with a total of 3,500 parking spaces); and approximately 1,250 additional parking spaces.

"We feel extremely honored to be part of the team selected for this exciting transit-oriented development," said Tom Bozzuto, CEO, The Bozzuto Group. "With the area poised for significant job growth over the next few years and the site's proximity to MARC as well as a number of key transportation arteries, the potential for this mixed-use community is unparalleled. We are committed to delivering a project that represents a true asset not only for the Odenton, but for the state of Maryland as well."

A catalyst in the redevelopment of the Odenton Town Center, the project has been a priority for Anne Arundel County as they prepare for the BRAC-related growth which is expected to add thousands of new jobs over the next few years. The project reflects the State of Maryland’s commitment to maximize the potential of State-owned land adjacent to transportation assets.

Located near Ft. Meade and NSA, the transit-oriented site not only offers the appealing convenience of the MARC station, but is also close to a number of major transportation routes, including I-95 and Routes 170, 175 and 32.

Established in 1988, The Bozzuto Group provides a broad range of real estate services -- including development, property management, homebuilding, landscaping, and construction -- for third party owners as well as its own account. The firm, its principals and operating companies have been the recipients of scores of prestigious honors and awards including the national Pillars of the Industry Awards for Multifamily Development Firm of the Year (2003), Property Management Company of the Year (2000) and Multifamily Builder of the Year (1998). The Bozzuto Group is headquartered in Greenbelt, MD. For more information, please visit www.bozzuto.com.