Portman Holdings Announces New CEO and COO

Company restructures, promotes Ambrish Baisiwala and Richard Jones

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. September 10, 2010

Atlanta, GA - September 9, 2010 - Portman Holdings, one of the world's leading full-service real estate development companies, has restructured, promoting Ambrish Baisiwala to the company's Chief Executive Officer and Richard Jones to the company's Chief Operating Officer. Portman Holdings will be supervised by a newly constituted Board of Directors.

“Ambrish has a great deal of experience working in this industry the world over,” explained John C. Portman Jr., chairman of the board for Portman Holdings and John Portman & Associates. “We chose restructuring to take advantage of our global presence and opportunities. Ambrish takes the role of CEO in order to continue the growth of Portman Holdings. I look forward to working further with Ambrish, and seeing where he'll be able to take Portman Holdings in the future.”

In this new role, Baisiwala is responsible for the management and profitability of the company, and for overseeing the overall operations in real estate developments, investments, management and capital raising. He reports directly to the Board of Directors. He has an extensive background in global real estate, with more than 17 years of experience working across a broad spectrum of property types. Baisiwala's experience has spanned the U.S., India, the Middle East, Southeast Asia and Australia. Prior to being named Chief Executive Officer he was the Executive Vice President of Development & Capital Markets.

“We have a tremendous foundation for growth with our brand name, track record of significant developments, and presence and recognition in key global real estate markets,” explained Baisiwala. “Our focus for the next five years will be to increase our participation and activity in the markets where we do business, and to raise capital to support our strategy.”

A 20 year veteran of hospitality and real estate operations, Jones will be responsible for Portman Holdings' global asset management and property management functions, and corporate operations in Atlanta as Chief Operating Officer. He will report directly to Baisiwala. Prior to this new role, he was the Executive Vice President of Acquisitions & Operations.

Portman Holdings' Board of Directors will continue to be led by Chairman John C. Portman Jr. and Vice Chairman John “Jack” Portman III. There are five additional board members, including Baisiwala and Jones.

About Portman Holdings
Portman Holdings, LLC is a vertically integrated, full-service real estate development company with an international presence and a rich history of developing premier projects that spans five decades and three continents. Our founder, John Portman, pioneered the concept of architect as developer, successfully building both an architectural firm of international repute as well as a host of affiliated real estate development, financing and management companies.

Today, Portman Holdings' multi-faceted expertise sets the standard of excellence for the development of mixed-use complexes and domestic and international urban landmarks as well as major resort areas around the world. These include hotels, office buildings, retail spaces, residences, and trade marts that integrate diverse and often competing interests into a unified project vision which responds to the community's desire to work, live and play in a city setting. These projects set the standard for marquee real estate developments and, wherever they are located, enrich the city by Defining the Sky®.