GID BECOMES FOUNDING PARTNER OF INDIAN REAL ESTATE DEVELOPMENT COMPANY

Boston - (October 1, 2007) - GID Investment Advisors LLC (GID) has become a founding partner of Piedmont Development Company (Piedmont), a newly-formed real estate development company based in Gurgaon, India. The other founding partners are Beekman Helix India, an Indian real estate merchant bank, and Akridge, a Washington DC-based developer and manager of Class A commercial properties. Piedmont's primary business is to provide development management services to India real estate projects in which its founding partners or their affiliates own interests. Piedmont is currently working on several for-sale housing projects located in Bangalore and in Faridabad, a suburb of New Delhi. Piedmont will also provide acquisition due diligence and asset management services in India to the founding partners.

Piedmont represents the second investment that GID has made in an Indian-based real estate operating company. GID's first investment occurred in May 2006 when it made a strategic investment in Beekman Helix India, the merchant bank referenced above (see May 1, 2006 press release). GID plans to make additional investments in the Indian real estate sector, with a particular focus on development projects which have a significant for-sale housing component located in or near India's major cities.

If you have any questions about GID's investment activities in Indian real estate, please contact Ken Munkacy, Senior Managing Director of GID's International Group, at (617) 854-9164.