Silver Developing Three Hyatt Place Hotels

Fredericksburg, VA., Jacksonville, FL. and Germantown, TN

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. October 14, 2008

WASHINGTON DC / BOCA RATON, FL, March 7, 2007. Silver Companies announced today that it has secured the rights to develop three Hyatt Place TM hotels for three different markets - Fredericksburg, Va., Jacksonville, Fla. and Germantown, Tenn.

Silver Companies will new-build each of their three Hyatt PlaceTM hotels, and will be one of the first to do so in each of the three states. Each Hyatt Place will be master-planned by Silver Companies and jointly developed with the MMI Hotel Group.

"We are extremely excited to be at the forefront of the Hyatt Place rollout," said Silver Companies CEO Larry D. Silver. "The name Hyatt signifies quality. It is a brand that we have long admired, and the design and features of this new concept are ones we think will be extremely attractive to the many markets in which we do business."

Silver Companies -- a master real estate development and investment firm with more than six decades of commercial experience - began building hotels as part of its Celebrate Virginia project, a 2400- acre retail destination and hub that constitutes North America's largest retail resortTM. A Hilton Garden Inn opened in Celebrate Virginia last year with a Homewood Suites and Hampton Inn & Suites on the way. When Silver Companies sought a fourth hotel to round out its tourism and conference campus, word that Global Hyatt Corporation was going to introduce a new concept caught Larry Silver's attention.

"The minute I heard about Hyatt Place, I put our team to work searching for locations," Silver said. "We have had a wonderful experience so far. The people at Hyatt are of the same caliber as their exceptional hotels."

All three locations share enviable features. The Fredericksburg, Va. Hyatt Place in Celebrate Virginia will be within walking distance of the 116,000 sq. ft. state-of-the-art Fredericksburg Expo and Conference Center and part of a destination retail resort that will include a main street entertainment district, the first WorldStreet marketplace concept, expo-adventure experiences and a gondola ride across the Rappahannock River.

The award-winning Cannon Ridge golf course is already on location. In addition, the Fredericksburg Hyatt Place site is already anchored by the East Coast's largest power center, Central Park, with an extensive tenant list that counts among its 140 retail destinations 25 national retailers (such as Borders Books & Music, Sports Authority, Best Buy, Kohl's and Toys "R" Us) and over 50 national restaurant chains (such as Outback Steakhouse, T.G.I. Friday's, Smokey Bones and Bonefish Grill).

The Hyatt Place hotel site in Germantown, Tenn. is located along Winchester and Forest Hill Irene roads in the city's Technology Corridor, down the street from the world headquarters of Federal Express to name one.

The hotel site in Jacksonville, Fla. is located along Duval and Ranch roads close to Jacksonville International Airport.

In all three cases there are additional parcels to be developed. Interested parties should contact Denny Weiss in Silver Companies' Florida office at 561-981-5252.