PRESS ROOM

Wheatlands, Aurora’s Newest Residential Development, Commences First Phase of Construction

Englewood, CO – January 17, 2006 – Alberta Development Partners, LLC, today announced the closing of Phase I at Wheatlands, the 407 acre residential development adjacent to its Southlands retail development at E-470 and Smoky Hill Road. Phase I consists of four neighborhoods, which will be developed by TriMark, D.R. Horton and Richmond American Homes. Construction on the multi- and single-family homes has commenced.

“Bringing more homes to the E-470 corridor supports continued growth of the local economy and the nearby retail developments,” said Don Provost, principal of Alberta Development Partners.

Site work is underway for Wheatlands’ Phase II, which includes six additional residential neighborhoods. Closing of the second phase will take place in spring of 2006 with construction beginning in summer of 2006. Construction is also underway on the 6,000 square foot clubhouse as well as a junior Olympic pool and toddler pool with a secured entry and playground. The community amenities will be complete by Memorial Day of 2006.

When fully developed, Wheatlands, will contain approximately 1,441 multi- and single-family homes. The final value of the master planned community will exceed $360 million.

Wheatlands is part of the more than 13,000 acres of land currently under residential development in southeast Aurora. Wheatlands residents will be able to access a variety of retail and service establishments within 20 miles, including Southlands, Denver International Airport, the Denver Tech Center and downtown Denver.

About Alberta Development Partners, LLC
Alberta Development Partners, LLC is engaged in the acquisition, development and investment of real estate throughout the Front Range of Colorado, focusing on regional retail shopping centers and mixed-use commercial projects. The company has completed in excess of 220 projects with more than 4 million square feet of retail space with a completed value of $1.5 billion. Alberta’s experience encompasses projects for office, retail, industrial, residential, college/university, professional sports stadium, health care and hotel facilities as well as historical rehabilitation.