Georgetown Redevelopment Imminent

A Georgetown Development Meeting with the Tampa Port Authority occurred Friday, September 7, 2007 discussing future building projects. Plans regarding complete renovation of water frontage and existing canals were presented. One hundred eight-nine boat slips, 99 of which will face our property on Canal, are expected. Dredging of the canals will take place internally to connect with north & south canals of the property to better improve the water quality and rejuvinate stagnant canals. As the time for building approaches, they will be available to meet with Homes of Regency Cove residents to answer any questions our shareholders may have regarding construction plans.