Enterprise Community Investment Announces New Officers in Capital Markets, Structured Finance and Tax Credit Syndication

Columbia, Md. – (March 18, 2008) – Enterprise Community Investment, Inc., a leading real estate investment services company for affordable housing finance and community development, today announced the appointments of four new officers in the Capital Markets, Structured Finance and Tax Credit Syndication business lines.

New Officer Appointments:

• Kari R. Fitzpatrick elected as vice president, Investment Management - Capital Markets
• Bill Ostrye elected as vice president, Fund Analysis - Capital Markets
• Tom Eastman elected vice president, Tax Credit Syndication
• John Ducey elected vice president, Structured Finance

“These newest officers reflect the strong leadership that has emerged at Enterprise,” said Charles R. Werhane, vice chairman and chief operating officer, Enterprise Community Investment, Inc. “Kari and Bill have built strong teams within Capital Markets to address the growing needs of our investors. Tom has been instrumental in building our syndication business in the Northeast, and John has carved out new frontiers for our mezzanine and new markets tax credits products. I am proud to congratulate each of them in the expansion of their leadership roles.”

Kari Fitzpatrick was named director and head of Investment Management in 2007. In this role, she maintained and augmented key investor relationships as well as managed and raised capital for investment in affordable housing projects. She has also served as an acquisitions manager, where she oversaw Enterprise’s multifamily developments financed with low-income housing tax credit equity (LIHTC). Ms. Fitzpatrick has a bachelor’s degree in finance from Boston University.

Bill Ostrye has more than 20 years of financial and accounting experience. Most recently, he served as Enterprise’s director of fund analysis, responsible for managing the portfolio of LIHTC equity funds to ensure objectives of maximizing investment return, accurate reporting, revenue forecasting and reporting and cash management. Mr. Ostrye joined Enterprise in 1995 as assistant divisional director of partnership accounting and also served as controller. He earned a Bachelor of Science degree in accounting from Clemson University and is a certified public accountant.

Tom Eastman manages acquisition activity in Pennsylvania, New Jersey, Upstate New York and across the New England states. Through Enterprise’s core line of business, syndicating affordable rental housing transactions using the LIHTC, he analyzes, evaluates and bids for affordable housing investment opportunities. Prior to joining Enterprise in 2001, Mr. Eastman worked with a community- based organization in Cleveland, where he developed real estate projects, including those utilizing LIHTC and historic rehabilitation tax credits. Mr. Eastman earned a bachelor’s degree in political science and international relations from Marquette University and holds a master of urban planning, design and development from Levin College of Urban Affairs in Cleveland.

John Ducey previously served as director of originations for Enterprise’s Structured Finance business, responsible for managing the company’s placement of equity and mezzanine debt for market-rate housing in addition to New Markets Tax Credit investments targeted at mixed-use and commercial developments. Mr. Ducey has spent 20 years in real estate finance, community development and affordable housing. Prior to joining Enterprise, he worked for Prudential Mortgage Capital Company and Muni Mae. Mr. Ducey holds a bachelor’s degree in business administration from St. Bonaventure University and a master of public policy with a concentration in public sector financial management and social policy from the University of Maryland’s School of Public Policy.

As a LIHTC syndicator, Enterprise has raised more than $6.5 billion in low-income housing tax credit equity through more than 95 investment funds and financed more than 1,600 LIHTC properties totaling more than 93,000 affordable housing units under asset management. Additionally, Enterprise is the industry leader in green affordable housing through its Green Communities® initiative, a five-year, $555 million commitment to build green affordable homes for low-income families nationwide. To date, Enterprise has helped build over 11,500 green homes in 250 communities representing more than $570 million in equity. Enterprise’s priorities also include partnerships to create service-enriched housing for people with special needs and the preservation and rehabilitation of affordable housing nationwide.

Enterprise works with nonprofit and for-profit developers, community organizations, corporate investors and government to provide development capital via equity and debt products and technical expertise in community development practices. Products and services include predevelopment and acquisition lending, permanent financing, low income housing tax credit equity, mezzanine debt, new markets tax credit equity and asset management.

Enterprise Community Investment, Inc. is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits, short and long-term debt, and development services to capitalize projects that make a catalytic difference in communities. Enterprise has privately raised nearly $9 billion to finance more than 240,000 affordable rental and for-sale homes, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of nearly $1 billion a year. Visit www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

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© 2008 Enterprise Community Investment, Inc. All rights reserved.
Enterprise Community Investment is a for-profit subsidiary of Enterprise Community Partners, Inc.
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