IAG Florida, Inc. Appoints New Director

Fort Lauderdale, Florida (May 14, 2003) – IAG Florida, Inc. (ALC), a prominent commercial real estate development and brokerage firm based in Ft. Lauderdale is pleased to announce the appointment of Mr. Lawrence B. Cummings as Managing Director, Brokerage Services. Cummings most recently served as Managing Director of Oxford Health Partners in Chicago. Cummings will be based out of the IAG Florida Fort Lauderdale office.

“Larry has leveraged an extensive hospitality brokerage background into the senior care and housing sector. His skills coincide with ALC’s focus on lifestyle real estate and underscore our commitment to recruit seasoned real estate professionals to meet the unique needs of our clients”, remarked Mark Ellert, President of IAG Florida, Inc.

Cummings has extensive commercial brokerage experience and is an active developer and investor in senior housing. He has worked with established firms such as Eastdil Realty and Sunriver Living Centers. He holds a BA from Harvard University and an MBA from Harvard Business School.

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. Current developments include The Atlantic luxury condo/hotel on Ft. Lauderdale Beach and the five-star Regent Winter Park Hotel, Spa & Residences in Orlando, slated to start construction later this year. 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.