Kor Names New CFO

Los Angeles-based company selects experienced hospitality-finance professional to occupy pivotal pos

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. October 14, 2008

OCTOBER 19, 2006. Pat P. Priest Named Chief Financial Officer For The Kor Group - Brad Korzen, CEO and founderof the Los Angeles-based hotel, real estate development and management firm, The Kor Group, is pleased to announce the appointment of Pat Priest as the new Chief Financial Officer for the rapidly-expanding company. In her capacity as CFO, Priest will manage Kor's continued growth through strategic financial planning and controls.

Priest began her career with KPMG in Dallas, Texas. In 1982, her career found new focus when she joined Rosewood Property Company at its formation as Executive Vice President, Finance and Administration. Over the course of her ten years with the company, she helped it grow into an internationally recognized real estate development and management company specializing in luxury hotels, office, retail, and residential ventures. Her responsibilities have included all areas of finance and administration, including corporate and project financing, treasury, controllership, human resources and corporate communications functions.

'Pat offers Kor a unique background in both domestic and international real estate development.' said Korzen in announcing the appointment. 'Her role in the formative stages of building a luxury hotel company at Rosewood, coupled with her experience in the design and construction industry at The Beck Group, brings a strong framework for our rapidly growing operations. This background, along with extensive experience with publicly-traded companies, brings a new perspective to our executive team and will be of tremendous benefit as she oversees effective financial management and reporting systems, accounting, information technology, risk management, and investor, banking and lender relations for all of Kor's boutique and branded hotels, multi-family properties, and real estate development projects.'

Priest joins The Kor Group with 33 years as a finance professional, serving in senior leadership positions with top global companies in the real estate industry. Most recently she was Managing Director and Chief Financial Officerfor the multi-national Beck Group, where, during her eight-year tenure there, she oversaw the capital structuring of the company's multi-tiered partnership entities in the US and Mexico, developed enterprise wide software systems and project controls and led the merger with an architectural firm to integrate the company's design and construction activities.

Priest holds a Master's Degree in Finance from the University of Texas at Dallas and a Bachelor's Degree in Accountingfrom North Texas State University. She also served on the faculty at the University of Arkansas Sam M Walton College of Business. In addition to her professional work, she has been actively involved in civic and community affairs over the course of her career. She is a member of the Board of Directors for The Real Estate Council and the City of Dallas' Design District TIF, is a member of the Finance Committee for the Greater Dallas Chamber of Commerce and sits on the Advisory Board for the University of Texas McCombs School of Business. She has also served on the Boards of the Dallas Opera, YMCA, International Women's Foundation, and Executive Women's Roundtable.