For Immediate Release: New York:

Winter & Company is pleased to announce the formation of W Financial., a wholly owned subsidiary which will focus on time-sensitive, transitional, mezzanine and "outside the box" direct private lending opportunities.

W Financial recently closed a $5,000,000 wraparound mortgage blanketing two luxury properties in Manhattan and Old Greenwich, CT. Gregg Winter, President, structured the three year, interest-only loan which will provide the borrower with needed liquidity, as well as the funds needed to complete a major renovation of the Manhattan property. The loan was structured and then closed quickly in order to give the borrower fast access to equity so he could avail himself of a business opportunity. It will provide an excellent leveraged rate of return for W Financial's investors.

The mortgage has a conservative loan-to-value of only 62% and it is also backed with strong personal guarantees.

Timothy Lyons, of Lyons Contracting, Inc, will provide construction supervision services. The loan closed on February 21st, 2002.

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