For Immediate Release: New York:

Winter & Company has arranged a new $3,550,000 mortgage for a 19,000 square-foot, full-floor office condominium in a Class "A" Midtown Manhattan office building.

The new loan replaced a maturing, LIBOR-based floating-rate loan with a fixed rate loan.

The Borrower is a public company that utilizes most of the floor as its New York City headquarters. Given a choice between locking a rate for either 5 or 10 years, the Borrower selected a 5-year fixed rate of 5.75% with an option to renew for an additional 5 years.

The loan closed on February 17, 2005. Gregg Winter, President of Winter & Company, arranged this loan with a New York-based lender.

Winter & Company specializes in providing advisory services as well as both institutional and private mortgages to commercial real estate owners and professionals nationwide. Its affiliate, W Financial is a direct private bridge and mezzanine lender providing short-term, special situation financing to developers, owners and investors. If you are an accredited investor and would like to learn more about investing in the Fund, visit PrivateMortgageInvestment.com