FREDERICKSBURG, VA, RICHMOND, VA and METRO WASHINGTON, DC – January 12, 2006 –Silver Companies, a national real estate investment firm and master planner and developer of large commercial and residential land tracts, today announced the completion of sale of the Hilton Garden Inn® Fredericksburg.

Less than one month after the doors officially opened at the first of several hotels scheduled to be built within Celebrate Virginia, the Hilton Garden Inn® Fredericksburg sold to a Richmond-based REIT, which invests in the nation’s leading upscale extended stay and select-service hotel brands.

“We are in the midst of creating America’s next great destination with Celebrate Virginia,” said Silver Companies CEO Larry D. Silver. “We are especially pleased that the Richmond-based REIT and the joint venture between Mississippi Management, Inc. and the Silver Companies have consummated the sale of the hotel. The buyer is a fine company that brings a wealth of knowledge and experience to this project as one of the largest lodging REITs in the country.”

Celebrate Virginia is the Silver Companies’ largest master development project to date and with its span over 2400 acres, Celebrate Virginia is also North America’s Largest Retail Resort©.

The next two named hotels scheduled for Celebrate Virginia are a Homewood Suites by Hilton® and a Hampton Inn & Suites®. In total, the three hotels will bring an approximate 400 additional hotel rooms to one of the fastest growing regions in the United States. The Fredericksburg Expo and Conference Center, featuring 115,000 sq. ft. of exhibit and meeting space, has already opened within easy walking distance of the Hilton Garden Inn® and the future hotel sites.

In addition to the four-hotel conference center campus, Celebrate Virginia will include development of an eco-center adventure park, theatre and entertainment district, a multi-cultural merchants’ shopping extravaganza and an indoor water park hotel, not to mention the National Slavery Museum, which on its own is expected to draw thousands of visitors annually.

The Celebrate Virginia resort is anchored by the already built and thriving Central Park, the East Coast’s largest retail power center dubbed “the exit of exits” for its more than 140 retail destinations, including 40 restaurants totaling over 2.2 million sq. ft. Just across the Rappahannock River lies a 1,250-unit active adult community by Del Webb, a Corporate Campus offering three million square feet for corporate clients and the award-winning Cannon Ridge Golf Resort -- all also part of Celebrate Virginia.

Celebrate Virginia is situated just 45 miles south of the nation’s Capital and within 500 miles of half of the population of the United States.

Located off I-95 at exit 130 B, the Hilton Garden Inn Fredericksburg features 148 guestrooms and nine suites, a business center, The Great American Grill restaurant and two meeting rooms that can accommodate up to 140 people. Complimentary amenities include high-speed Internet access, a state-of-the-art fitness center and an adjoining indoor pool and whirlpool. In each room, guests will find a spacious work desk and ergonomic Herman Miller chair, a hospitality station with microwave, refrigerator and coffee maker, and a high-definition television. Within easy walking distance is the brand new Fredericksburg Conference & Expo Center, and adjacent to the property is Central Park’s 40 restaurants and 140 shopping destinations.

Silver Companies is a Metro Washington, D.C. - and Boca Raton, Fl–based real estate investment firm and master developer of large commercial and residential land tracts. Since 1941, Silver Companies has acquired and sold more than 30,000 acres, master developed commercial space exceeding 11 million sq. ft. and including numerous hotels and office buildings, and master planned and developed residential communities approaching a total of 50,000 units. In addition, Silver Companies has provided more than $1 billion in capital to builders and developers during the last six years. Silver Companies is led by CEO Larry D. Silver and is backed by teams of division presidents, engineers, contractors, project managers, lending, leasing and acquisitions professionals and nationally-recognized strategic partners. For more detailed information, visit www.silvercompanies.com.

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