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NEWS ROOM

Intergroup Arranges 375-Acre Orlando-Area Land Sale

April 7, 2003 - Tandy O. Lofland, President of Intergroup Realty, Inc. is pleased to announce the closing of the sale of 375 acres of land in Osceola County, Florida near Orlando, Walt Disney World, and Intergroup's existing development, The Parkway.

The heavily wooded site was purchased for immediate development by one of the largest U.S. builders. When completed, the project on one of central Florida's largest lakes will consist of over 600 multi-family and single family residences, plus commercial space and a series of parks, lakes, and tree-lined boulevards. Prior to the sale, Intergroup arranged zoning and initial entitlements for the seller, a long-time client, then assisted the buyer in obtaining additional permits and entitlements required for site development. Intergroup previously represented the seller in their acquisition of the property.