James Allmand ,

Fort Lauderdale, Florida (November 3, 2004) – IAG Florida, Inc. (IAG), a prominent commercial real estate development and brokerage firm based in Ft. Lauderdale announced today the appointment of Mr. James R. Allmand as Managing Director, Advisory & Management Services. He will oversee the firms consulting and asset management services, and will offer hotel, resort and marina management services under a newly formed entity, Rivergrass Hospitality.

Allmand joins IAG after an 11 year affiliation with RAHN Properties and Boca Resorts, where he served as General Manager and Vice President of Hyatt Pier 66 Resort and Marina until his resignation in early 2004 to pursue independent opportunities. In separate 2001 awards, he was named General Manager of the Year by both the American Hotel & Lodging Association and the Florida Hotel Motel Association. Allmand will be based out of the IAG offices at its Portside Yachting Center on the 17th St Causeway.

“I can think of no better hospitality executive in South Florida to join our organization”, remarked Mark Ellert, President of IAG. “Not only does he have management credentials with some of the most demanding owners and complex resort/marina properties, Jim has had extensive experience throughout the Southeast US, Caribbean, Mexico and Central America, and he has owned properties for his own account. He thinks like an owner, and that is our trademark.” A graduate of New Mexico Military Institute and the University of Arizona, Mr. Allmand is fluent in Spanish.

IAG Florida, Inc. is active throughout Florida and the Caribbean, providing real estate advisory, brokerage and development services. The firm recently completed development of the luxury condo/hotel, The Atlantic on Ft. Lauderdale Beach, is developing the five-star Regent Winter Park Hotel, Spa & Residences in Orlando and is the leasing agent/development manager for Portside Yachting Center, a specialty office building in Ft. Lauderdale. With venture partner Portside Marina Inc., the company acquires, develops and manages marina facilities.