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NEWS ROOM

Intergroup Arranges Sale of Houston, Texas Area Hampton Inn

June 24, 2004 - Tandy O. Lofland, President of Intergroup Realty, Inc. is pleased to announce the sale of the 70-room Hampton Inn Houston NASA - Johnson Space Center, Seabrook, Texas. The hotel, completed in 2003, is said to be one of the most upscale Hampton Inns in the region and has experienced a strong initial ramp-up in business.

The hotel was acquired from the developer and owner, Glenbrook Lodging, by a California private investor and will be operated for the owner by Houston-based MHDC Management, LLC. Financing was arranged with Moody National Bank by Leonard Smith of the Houston office of Aries Capital and Intergroup collaborated with InterNet Realty Group on the transaction.