Cornerstone Development Group, Sterling Resorts, Sterling Realty Merge, Form the Sterling Companies

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. October 14, 2008

DESTIN, FL, February 23, 2006. Three of Northwest Florida's leading privately-owned resort development, management and real estate sales companies - Cornerstone Development Group, Sterling Resorts and Sterling Realty - have announced that they have merged to form The Sterling Companies, the area's only locally-owned and fully integrated, full-service resort development, sales and management firm.

"The Sterling Companies evolved from our vision to create a faith-based company that could become Northwest Florida's leading provider of fully-integrated resort development, management and sales," said Buddy Runnels, one of the founding partners of all three companies. "Sterling Resorts, Sterling Realty and Cornerstone Development Group have always worked together to deliver a full range of services, but now it makes sense to become known as a single entity."

Combined, Cornerstone Development Group, Sterling Realty and Sterling Resorts employ more than 200 people, and have annual gross revenues of about $600 million.

According to Runnels, The Sterling Companies offer the same scope of services and depth of resources as leading national resort development and services firms. Plus, because they are privately held and based in Northwest Florida - which is in close proximity to clients - The Sterling Companies have the advantage of remaining flexible, making quick decisions and accessing ownership, when necessary.

"Operating under one umbrella will unify our operations, help us work more efficiently and elevate the level of service we provide to our existing and future clients," added John McNeil, the companies' other founding partner. "We're very excited to see our vision take its next shape."

As part of the merger agreement, Runnels and McNeil will serve on the board of directors of The Sterling Companies as chairman and vice chairman, respectively. Jim Olin, CEO of Sterling Resort and

Sterling Realty, has been named CEO and a member of The Sterling Companies' board of directors, and J. Garrett McNeil will assume the roles of company president, chief operating officer and board member.

"I'm very pleased and honored to take the helm of The Sterling Companies," said Olin. "By combining our efforts and resources, we will continue to grow and introduce even more clients, owners and guests to our Sterling Advantage."

ABOUT THE STERLING COMPANIES:

The Sterling Companies, consisting of Sterling Development, Sterling Realty and Sterling Resorts, is Northwest Florida's only fully-integrated, full-service resort development, sales and management firm.

From resort development and real estate sales to vacation home rental and homeowner

association management, The Sterling Companies provides a full range of services for luxury resorts, condominiums and vacation homes located throughout Northwest Florida.

Headquartered in Destin, Fla., The Sterling Companies employ more than 200 people and is projecting combined 2006 annual revenues in excess of $600 million. For more information, visit www.TheSterlingCo.com.

For more information, contact:

Carla Parks at (407) 261-5716 or [email protected]