Ft. Lauderdale Beach Condo/Hotel Project Draws Senior Development Manager

Fort Lauderdale, Florida (March 24, 2003) – IAG Florida, Inc., a prominent commercial real estate development and brokerage firm based in Ft. Lauderdale is pleased to announce the appointment of Mr. Paul Heitman as Senior Development Manager for The Atlantic, Fort Lauderdale Beach’s first ultra-luxury condo/hotel development. Mr. Heitman will be based on-site at the project location, on A-1-A between Auramar and Terremar Streets. The 124-unit development, which will be managed by Starwood Hotels and Resorts as a Luxury Collection brand, is currently under construction and is slated for completion in April 2005. “Paul’s multi-disciplinary background and extensive hospitality experience adds tremendous breadth to the project team. We are delighted to welcome Paul on board”, announced Mark Ellert, President of IAG Florida, Inc.

Prior to joining IAG Florida, Mr. Heitman served as Senior Construction Manager with Walt Disney Imagineering in Lake Buena Vista. From 1993 he managed over $800,000,000 in Disney construction projects. From 1986-1993 Mr. Heitman was Project Manager for Lehrer McGovern Bovis, Inc. in Princeton, NJ where he managed over $400,000,000 in diverse construction projects.

IAG Florida, Inc. provides development, mortgage and real estate brokerage services for hospitality, living & lifestyle real estate products. Dedicated to the South Florida and Caribbean markets, the firm completed development of the Ft. Lauderdale Renaissance Hotel in 2000 and is now developing the Regent Winter Park Hotel, Spa and Residences in Orlando. Affiliated with the IAG Florida of Miami, a full service real estate investment banking firm, IAG Florida provides clients with the integration of financial, operational and real estate development skills, all of which are essential for success in today's hospitality industry. For more information, visit www.IAGleisure.com.