FIRST COLUMBIA HOLDS GRAND OPENING AT 555 HUDSON VALLEY AVENUE: 49,000-Square-Foot Office Building Continues to Attract Array of Tenants to the New York International Plaza 05/10/06

NEW WINDSOR, NY (May 10, 2006) — Commercial real estate development company, First Columbia, today held a grand opening and ribbon cutting ceremony at their newest office building, 555 Hudson Valley Avenue, located at the New York International Plaza in the Town of New Windsor.

The 49,000-square-foot office space, which opened October, 2005, serves as headquarters to ENAP, Inc., a 38-year-old lumber and building cooperative, which occupies the building’s second floor. Other tenants include Hudson Valley Economic Development Corporation, which markets the nine-county Hudson Valley area; State Farm Insurance; and, the newly reorganized law firm Drake, Loeb, Heller, Kennedy, Gogerty & Rodd PLLC. More than 7,000-square-feet of building remains available for lease.

“When we broke ground in March 2004, we envisioned a building that would offer tenants a convenient space with room for future growth,” said First Columbia Vice President Chris Bette. “With the opening of this facility, the anticipated success of our tenants and the future completion of the Drury Lane exit off I-84 in 2007, we look forward to a bright future at 555 Hudson Valley Avenue.”

Currently, the two-story, Class A office building located on six acres, is one of four office buildings in the New York International Plaza park located adjacent to Stewart International Airport, inside the New York State-designated Stewart International Empire Zone, as part of one of the most competitive and innovative places to do business in Orange County and the Hudson Valley.

“With each new office building and tenant the New Windsor community benefits. “ added New Windsor Supervisor George Green. “We are all eager to watch the tenants of 555 Hudson Valley Avenue as they grow and positively impact this community.”

The 260-acre master planned corporate campus features more than two million-square-feet of integrated facilities. In addition to office space, the plaza is approved for future development of research and development facilities, hotel and convention space and a data center. Businesses currently based in the park include: LSI/Lightron, Inc., Mid-Hudson Family Health, Westchester Cardiology, Hudson Valley Imaging, Empire State Development, OxyVita, American Petroleum and McGoey, Hauser and Edsall.

First Columbia is one of the region’s largest real estate developers and part of the Bette Family of Companies, a diversified building organization headquartered in Albany. As a vertically integrated organization, First Columbia provides comprehensive services from site acquisition through permitting, design construction, leasing and financing – all focused on creating value in real estate for their customers.