Our Company at a Glance:

EPG seeks continued opportunities in Niche markets not served by larger national players and in doing so we have created value where others have never looked and have a strong future as a small yet very profitable player in the student housing marketplace. Three projects are currently under construction in Pennsylvania.

We are now looking at opportunities in Fitchburg, Mass., Wheeling, West Virginia, Mont Alto, PA and Bloomsburg, PA. Several other projects are currently in pre-construction stages as well.

We will continue to be an infill player with strong urban and retro skills and the ability to see potential and added value plays that other larger firms either walk by or fail to execute on timely due to bureaucratic hurdles. 2007/2008 is shaping up to be a very strong and pivotal year for us with continued profits from groundwork land in 2006 and record profits and opportunities anticipated for 2007 into 2008.

Strong long term growth on net wealth established with Apex at Kutztown, 550 Loft and increased net worth and cash flow with the upside land value and cash brought in from beginning of Shippensburg and completion of Prairiewood this year.

By keeping pre-construction in house for 550 Loft, and doing development for Kutztown and Temple we will further boost cash operating income through 2007 and into 2008 for cash flows well over our continued lean operational cost.