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FOR IMMEDIATE RELEASE
February 9, 2006

SHELTER PROMOTES ROBUCK TO CHIEF FINANCIAL OFFICER

Baltimore, MD—The Shelter Group, a nationally recognized award-winning developer and manager of market rate and affordable apartment communities, recently promoted Scott Robuck to Chief Financial Officer. In his capacity as CFO, Mr. Robuck will be responsible for all corporate financial matters including banking relationships, budgeting and financial reporting, management of cash flow and liquidity, oversight of interest rate risk and balance sheet management for all three Shelter companies. In addition, he will continue to oversee the Corporate Accounting Department and will handle project level financings for various transactions.

Mr. Robuck joined The Shelter Group in 2004, working on a wide variety of financial issues for Shelter Development. Since then, he has consistently assumed roles of increasing responsibility, including most recently the oversight of the Corporate Accounting Department.

In making the announcement, Marilynn Duker, President of Shelter Development, said, “During his tenure with Shelter, Scott Robuck has not only met, but exceeded our expectations in every assignment he has been given. He has added great value in the short time he has been with Shelter, and I am confident that his leadership as Chief Financial Officer will be vital to the strategic growth and development we have planned at Shelter.”

Mr. Robuck has extensive experience in financial modeling, analysis, and strategic planning. His experience also includes an Initial Public Offering, a corporate acquisition, and raising venture-based financing. Prior to joining The Shelter Group, Mr. Robuck was Controller and Director of Finance at Artifact Software, Inc., a Baltimore-based software development firm.

He earned a Bachelor of Business Administration with a concentration in accounting from Loyola College and is a Certified Public Accountant. He also serves on the Board of Directors for Archbishop Spalding High School, in Severn, Maryland.

The Shelter Group is a national real estate development and property management company specializing in multi-family and senior living communities. From its founding in 1977, the value of Shelter's development portfolio has grown in excess of $1 billion and the size of its management portfolio and quality of its people make it among the country's most respected property management companies. The firm's portfolio contains a broad range of properties in diverse settings, including conventional and affordable apartment communities and, through its Brightview Senior Living division, service-rich independent and assisted living communities for seniors. For more information on The Shelter Group and its operating companies, please visit www.TheShelterGroup.com.



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