John Anderson and Portside Marina's Joint Venture

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 its joint venture with John Anderson and Portside Marina, Inc. for the purpose of acquiring and managing marina properties in Florida and the Bahamas. The announcement follows the appointment of James Allmand as IAG’s newest director, who will oversee its marina acquisition and management efforts.

Portside Marina currently manages the marina facilities at the Marriott Marina Hotel, located on the 17th St. Causeway in Ft. Lauderdale, Florida. Mr. Allmand recently joined IAG after having been Vice President and General Manager of the Hyatt Pier 66 Resort and Marina for the past 10 years.

In announcing the venture, Mark Ellert, President of IAG commented, “marina management is about delivering service to owners, crew and guests and profits to investors. Jim Allmand’s reputation for delivering outstanding service and profits at both the Bahia Mar and Pier 66 marinas is unquestioned. He can drive customer satisfaction and profits in a business typically more concerned about the number of slips and the size of the cocktail bar.”

In commenting on their strategy, John Anderson said “it’s a logical step to assemble this management and development team and capitalize on the consolidation of this industry. Portside is one of the premier marina and resort facilities in the United States, not to mention Pier 66 and Bahia Mar, which my prior partners redeveloped and managed before selling to Boca Resorts. Both Ellert and Allmand were involved in those efforts, so we’re a team that has produced and delivered.”

IAG Florida, Inc. is active throughout Florida and the Caribbean, providing real estate advisory, brokerage and development services. IAG is the leasing agent/development manager for Portside Yachting Center, a specialty office building in Ft. Lauderdale. And with John Anderson is developing the five-star Regent Winter Park Hotel, Spa & Residences in Orlando. The company is affiliated with Premier Sales Group, a sales/marketing firm specializing in new-build luxury condominiums and hotel/condos.