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3 2006-02-22 BRONX TENANTS PURCHASE MITCHELL LAMA HOUSING Jessica Ziegler Director of Development & Communications Housing & Services, Inc. 212-252-9377 NEW YORK, Feb. 22, 2006 – Apollo Real Estate Advisors, non-profit housing developer Housing and Services, Inc. (HSI) in association with the tenants association, today announced plans for the affordable coop conversion of the Lafayette-Morrison and Lafayette-Boynton Housing Corporations in the Soundview section of the Bronx. Apollo and HSI led the $100 million acquisition of the complex, which has eight, 19-story apartment buildings with a total 1,865 units and 1.4 million square feet of residential space. Ramius Capital Group co-invested equity and Morgan Stanley Mortgage Capital, Inc. provided debt for the transaction. With the assistance of state and local officials, the partners will convert the properties to affordable coops for the existing tenants, consisting primarily of working families with incomes between $30,000 and $60,000 annually. The conversion culminates some 15 years of work by the tenants association to preserve their homes and maintain the complex as quality affordable housing. “This is the best possible result for the more than 1,800 families in these apartment buildings. They get to keep their homes at an affordable price,? said Claire Haaga, former president of HSI. James Simmons, Apollo partner, said the project is a first in that it is 100% privately financed, with no direct involvement of public funds. Apollo, co-developer of Time Warner Center, is an active real estate investor in the U.S. and internationally, overseeing the investment of eight real estate funds. “It typically is difficult to find sources of equity capital for affordable housing projects that believe in doing what is best for the tenants,? Simmons said. “We believe we are ahead of the curve with a model that can be replicated elsewhere.? “Apollo’s involvement in this project is part of our ongoing strategy to focus investment on the affordable and middle-income housing market in New York, which is underserved,? said Richard Mack, Apollo managing partner. “Apollo is actively seeking all types of creative residential opportunities in New York and is planning on investing more than $1 billion in all property times in the New York metropolitan region over the next three years.? Simmons said the complex, located at Boynton and Lafayette avenues, overlooking Soundview Park, will be renamed Lafayette Estates. The conversion will be handled in two phases, he said. Apollo anticipates that half the apartments will be marketed by the end of 2006 and the other half by the beginning of 2008. Units include one- two- and three-bedroom apartments, some with terraces. Apollo also plans approximately $7 million in capital improvements for hallways, landscaping and façade work, he said. The properties were developed under New York State’s 1955 Mitchell Lama law, which subsidizes low- and moderate-income housing in exchange for low-interest mortgages and tax abatements. Many Mitchell Lama developments that have exited the program have the ability to go to market rents or convert to market rate cooperatives or condominiums. The partnership crafted for this transaction creates a win-win-win scenario for the tenants, the investors and the City of New York. The elected officials of the Bronx -- Bronx Borough President Adolfo Carrion, Jr., New York State Senator Ruben Diaz and New York State Assemblyman Ruben Diaz, Jr., as well as New York City Council Members Annabel Palma and Carmen Arroyo -- collectively supported this landmark project. The New York State Division of Housing and Community Renewal (DHCR) has worked closely with the tenant groups and purchasing team. “I congratulate the tenants for their years of hard work and commend Apollo and HSI for their assistance and involvement,? Carrion said. “The tenants at Lafayette-Morrison and Lafayette-Boynton will soon have the opportunity to purchase their apartments and achieve the American dream of homeownership.? Assemblyman Diaz, who took the early lead in supporting the tenants organization led by Doris White, called the result a victory for the tenants and the citywide cause of protecting affordable housing. “I hope this victory will serve as a new paradigm of ownership and self-preservation for other Mitchell Lama residents facing the uncertainties that come with leaving the program,? said Diaz. About Housing and Services, Inc. Housing and Services, Inc. (HSI) is a nonprofit organization dedicated to creating cost-effective solutions to housing crises for all New Yorkers. HSI develops and preserves affordable and special needs housing and manages three supportive housing residences: The Cecil Hotel, The Narragansett, and Kenmore Hall. About Apollo Real Estate Advisors, L.P. Apollo Real Estate Advisors is one of the most prominent real estate investors in the U.S. and internationally. Apollo specializes in acquiring undermanaged and distressed properties and developing properties in major urban areas throughout the U.S. and Europe. Since the firm’s founding in 1993, Apollo has overseen the investment of eight real estate funds totaling more than $5 billion in equity. Contacts for Apollo: Michelle Manoff Rubenstein PR 212-843-8051 mmanoff@rubensteinpr.com Jim Simmons, III Apollo Real Esate Advisors, L.P. 212-515-3337 simmons@apollorealestate.com noImage

4 2005-06-14 Carrion, Serrano Saluted As Belmont Boulevard II Apartments Celebrates Its Grand Opening Jessica Ziegler Director of Development & Communications Housing & Services, Inc. 212-252-9377 New $10 Million Senior Housing Continues Revitalization of Belmont Neighborhood Top Bronx Officials joined leaders of the Belmont Arthur Avenue Local Development Corp. (BAALDC) and Housing and Services, Inc. (HSI) today to celebrate completion and rent-up of an 87-unit apartment project for low-income seniors that will let the tenants age in place in Bronx’ famous Little Italy neighborhood. The two groups which jointly developed the $10 million project under a federal Department of Housing and Urban Development Section 202 grant salute Bronx Borough President Adolfo Carrion and U.S. Rep. Jose Serrano for their roles in securing financing and reconciling city and federal requirements to clear the path to the development. The newly completed building will be named the Belmont II project – The William “Slim? Rodriguez Apartments, honoring the memory of a beloved member of the Belmont Community and former BAALDC employee. “One of the keys to stabilizing neighborhoods is to allow older people to stay where they raised their families,? said Joe Cicciu, Executive Director of BAALDC. HSI and BAALDC have partnered on a variety of projects over the past 18 years developing three senior citizens apartment projects and other buildings that have contributed to the rejuvenation of the Belmont neighborhood, today one of the safest and most attractive in the City. The elected officials’ were critical to the success of the Belmont project. The Bronx Borough President’s office provided crucially needed financial assistance to perform environmental remediation of the Belmont Boulevard II Apartment site, and Congressman Jose Serrano’s support was instrumental in reconciling city and federal requirements. In addition to BAALDC and HSI, the project development team included Donald & Liisa Sclare, Architects; Kreisler Borg Florman, General Contractor; and Straci and Cooper, LLP Legal Counsel. Belmont Boulevard II Apartments is adjacent to Belmont Boulevard I Apartments, 96 units of HUD Sec. 202 elderly housing that was also jointly developed by HSI and BAALDC in 1994. This 183-unit senior housing campus is managed and operated by the projects’ sponsor, BAALDC. BAALDC, known for its successful revitalization of the Little Italy neighborhood in the Belmont section of the South Bronx beginning in the early 1980’s was eager to expand its anti-blight efforts into the surrounding Belmont neighborhood. The HSI-BAALDC housing collaboration began in 1987 with the acquisition and development of a former convent turned nursing home into 98-units of HUD Sec., 2020 housing known today as Notre Dame Apartments. Since that time BAALDC and HSI have co-developed more than 350 senior housing units in the South Bronx, and successfully refinanced the HUD $6 million, 9.25 percent interest rate mortgage on Notre Dame Apartments in 2005. As the first HUD Sec. 202 project in NYC to refinance using taxable bonds and FHA 223 (f) insurance, Notre Dame HDFC used bond proceeds to perform needed capital improvements, and over 10 years will save more than $1 million in debt service payments that will be used to fund increased social services for the elderly tenants as they age in place. Since 1987, BAALDC has successfully developed and managed 1,500 units of affordable housing in the South Bronx. HSI and BAALDC are proud of their enduring partnership and endeavors to improve the lives of low income residents of the South Bronx. noImage

5 2006-02-01 Housing and Services, Inc. Names Lawrence Oaks, HSI Top Executive Jessica Ziegler Director of Development & Communications Housing & Services, Inc. 212-252-9377 The Board of Directors of Housing and Services, Inc., is pleased to officially announce that as of February 1, 2006, Lawrence Oaks, HSI’s Executive Director, will serve as the agency’s top executive. It is an honor to oversee the leadership transition at HSI,? said Michael T. Cohen, Chairman of HSI’s Board of Trustees. “I am extremely pleased that Larry Oaks will be taking the helm; he has worked with HSI for the past nine years, and I trust, will continue the tradition of creating innovative solutions to the housing issues faced by all New Yorkers.? Oaks joined HSI in 1996 as a Property Management Associate and became a Vice President in 2003. He has overseen the management of properties in HSI's portfolio since 1999. Under his leadership, HSI’s building management and services has grown from 190 units in 1999 to 516 units for special populations currently, including Kenmore Hall, the Narragansett and the Cecil Hotel. The Board of Trustees had named Lawrence Oaks HSI’s first Executive Director in April 2005 and Mr. Oaks will continue in that title, serving as the agency’s top executive. Mr. Oaks is a graduate of the State University of New York at Oneonta and attended the Harriman Graduate School of Public Administration. Call us directly at 212-252-9377 with any questions about HSI's programs or management. noImage

7 2006-05-19 MINTON’S PLAYHOUSE TO RE-OPEN ON FRIDAY MAY 19TH Jessica Ziegler Director of Development Housing & Services, Inc. 212-252-9377 x105 LEGENDARY HARLEM JAZZ CLUB, KNOWN AS THE BIRTHPLACE OF BEBOP, SET TO OPEN ITS DOORS ON FRIDAY MAY 19TH FOR THE FIRST TIME SINCE THE EARLY 70’S FOR IMMEDIATE RELEASE May 12, 2006 Leaders of Housing & Services, Inc., among the city’s premier providers of supportive housing for the formerly homeless, announced today that Harlem’s most famous and legendary jazz club, Minton’s Playhouse, shuttered since the early 70’s, will re-open on Friday May 19th. Minton’s was known as the birthplace of bebop during a legendary 32 year run on the first floor of the Cecil Hotel, a 103 year old building that now operates as an 89-unit, HSI run supportive single room occupancy hotel. Thelonius Monk was the house piano player and headliners who played the room included such legends as Count Basie, Duke Ellington, Benny Goodman, Quincy Jones, Charlie Parker and Billie Holiday. Earl Spain, a well-known Harlem club operator, is the proprietor of the new Minton’s, which occupies the same space as the original club at 206-210 West 118th Street. True to its history the club will feature Monday night jam sessions in an intimate atmosphere inspired by the 1940’s. “The reopening of Minton’s is a truly special event, not only for jazz enthusiasts, but for Harlem as well,? said Lawrence Oaks, Executive Director of HSI. “Harlem’s renaissance would not be complete without the comeback of this important cultural venue.? For more information on HSI, go to www.hsi-ny.org For information on Minton’s Playhouse check http://www.streetplay.com/stickball/halloffame/aboutmintons.shtml or other sites reachable through Google. http://www.flickr.com/photos/harlemfur/151510881/in/set-72157594144013705/ MINTON’S PLAYHOUSE TO RE-OPEN ON FRIDAY MAY 19TH Mintons opening3.jpg

9 2006-09-19 Executive Director Lawrence Oaks appointed to the Board of the Flatiron 23rd St Partnership Jessica Ziegler Director of Development Housing & Services 212-252-9377 x105 HSI Executive Director Larry Oaks was recently appointed to the Board of the newly formed Business Improvement District for the 23rd Street corridor - the Flatiron 23rd Street Partnership. HSI’s largest supportive housing project, Kenmore Hall, is located on East 23rd Street. HSI’s renovation of the once blighted Kenmore, completed in 1999, helped pave the way for the economic revitalization of East 23rd St. Today the neighborhood is one of Manhattan’s hottest with major residential development underway and street level retail thriving as never before. The Flatiron 23rd Street Partnership will provide sanitation, security and homeless outreach services in an area that extends from 21st to 28th Streets between 3rd and 6th Avenues. HSI will also be working with the 23rd Street Partnership to create new employment opportunities for our tenants. noImage

10 2007-08-28 Manhattan Carpets signs long term lease at Kenmore Hall Larry Oaks Executive Director Housing and Services, Inc. 212-252-9377 Family owned store remains in area - lease supports NYC non-profit Manhattan Carpets, a family owned carpet business that for 15 years maintained a store on East 23rd Street between 2nd and 3rd Avenues is relocating to the anchor retail space on the ground floor at Kenmore Hall, located on 23rd Street between Lexington and 3rd Avenues, this fall. A lease for the 5,000 square foot space formerly occupied by the Olive Leaf Wholeness Center was executed this week. The new Manhattan Carpets store, which will sell carpeting and flooring of all types, will open in late 2007 / early 2008. “I’m pleased we were able to find a way to keep a long time neighborhood store in the area – there aren’t many businesses like Manhattan Carpets left in mid town anymore? said HSI Executive Director Lawrence Oaks. “And it goes without saying this deal is a great deal for us too – the income from this lease directly supports our largest supportive housing program - it’s hard to overstate the importance of a revenue stream like this,? Oaks said. Housing and Services, Inc. (HSI) is a nonprofit supportive housing agency dedicated to ending homelessness. Kenmore Hall, which will share the building with Manhattan Carpets, houses 326 formerly homeless individuals who receive a myriad of onsite support services onsite through social workers, psychiatrists, and health care workers. HSI provides housing and services to 535 formerly homeless men and women throughout New York City each day. Richard Cohan and Andrew Connolly of GVA Williams represented Kenmore; Sinvin represented Manhattan Carpets. Construction of the new store, which is expected to last several months, is underway. noImage

11 2008-05-27 Housing and Services, Inc. is pleased to announce Jim Dill as Acting Executive Director May 27, 2008 - “It is an honor to lead Housing and Service, Inc.,” says Jim. “In my six years working with HSI, it has been a privilege to serve on the HSI team of Management and Board members to reorganize our supportive housing programs, and enhance the services we provide to the over five hundred residents of The Cecil, The Narragansett, Kenmore Hall, and Scatter Site and also to participate in the development of two supportive housing projects for peer not-for-profit organizations, including the first for young adults aging out of New York City’s foster care programs. “It has also been a pleasure to work with the over eighty employees of HSI. HSI exists to improve the lives of our clients and I am inspired by the professionalism, energy, and dedication on our staff which makes this work possible. “The upcoming year will be an exciting time for HSI. Through the generosity of New York City’s Department of Housing Preservation and Development, we will be launching a multi-million dollar capital improvements campaign to our Projects. The improvements will better the quality of life for our tenants and preserve our buildings’ infrastructures into the 21st century. In addition, we will continue to explore new program initiatives to supplement the services we already provide. “I am struck by the wide array of constituencies that it takes to make our projects successful, ranging from our government funders, donors, civic associations and the city’s leaders in real estate development, law and financial institutions who are committed to creating a better New York. In my new role I look forward to meeting with all of our stakeholders, and I am committed to expanding HSI’s constituency base.” Jim joined HSI in 2002 and has most recently served as HSI’s Deputy Executive Director. His career includes over ten years of service as senior management for New York based not-for-profits. noImage