Dallas, Texas (July 31, 2005) - A joint venture partnership between PRG Realty Investors and Winston Capital purchased a 39,520 square foot site adjacent to the Katy Trail. Development plans are to take advantage of the property’s PD-193 zoning and develop a 12-story, 108-unit condominium development providing excellent views of downtown and the Katy Trail.

The new development will benefit from its location adjacent to the Katy Trail and proximity to the numerous restaurants and amenities along Turtle Creek Boulevard and the Quadrangle. In addition, the proposed development of the Hard Rock Hotel on the Accor site just west of the Property will add to the desirability of the location. The proposed development is projected to commence in the 1st quarter of 2006.