IAG Florida Retained by Bal Harbour Shops for Development Management

Fort Lauderdale, Florida (May 31, 2005) – IAG Florida, Inc. (IAG), a prominent commercial real estate firm based in Ft. Lauderdale announced today it has been retained in venture with John Anderson of JHAnderson Holdings, as development manager for the world renown Bal Harbour Shops.

In announcing the engagement, Mark Ellert, President of IAG commented “this is a once-in-a-lifetime opportunity given the unique world-class reputation of Bal Harbour Shops. Under the visionary leadership of developer and owner Stanley Whitman, a luxury level “lifestyle” hotel will be added to this quintessential luxury resort destination, and we are honored to be a part of that effort”.

Ellert and Anderson have collaborated on past projects, and are currently developing a luxury condominium resort in Winter Park, Florida. Mr. Ellert recently completed the development of The Atlantic, a luxury condo-hotel on Ft. Lauderdale Beach. Mr. Anderson recently completed development of the Ritz Carlton San Juan. The pair teamed up to offer seamless advisory services to Bal Harbour Shops on hotel development issues specific to the South Florida marketplace, luxury resorts and the surge in condominium and condo-hotel development occurring throughout
Dade County.

IAG Florida, Inc. is active throughout Florida and the Caribbean, providing real estate advisory, brokerage and development services.

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