PRESS RELEASE

Michael Koh, Argentine Real Estate Consultant Appointed Managing Director of The Algodón-Recoleta, SRL in Buenos Aires

September 2006

Michael Koh, President, ApartmentsBA, a company that provides consulting services for foreigners that are interested in purchasing property as an investment in Argentina,  has been appointed  Managing Director of The Algodón-Recoleta, SRL in Buenos Aires, Argentina. This company is responsible for developing, managing and operating the new Algodón-Recoleta Hotel.

The hotel will be housed in a stately 5-story mansion located on a lovely tree-lined street in Recoleta the most desirable neighborhood in Buenos Aires. Originally built in 1912, the property is in the heart of the embassy and luxury hotel district. Plans have been finalized for the development of this premium-luxury boutique hotel which will also include an exclusive classic French restaurant and rooftop pool. "Koh brings his many years of real estate experience and will be a key asset to us in this exciting building and development project”, said Scott Mathis, Founder, President and CEO of InvestProperty Group, LLC, which is part owner of this hotel.