Senior Real Estate Exec Joins LandCap Partners

Scott Ouellette Named SVP, West for LandCap Partners
LOS ANGELES--(Business Wire)--LandCap Partners, a national residential land company, announced
today that Scott Ouellette has joined the company as Senior Vice
President, Western Region. In this position, he will oversee
underwriting and management of land investments for the Western United
States.

"We are excited to have Scott join our team," said Jeff Gault, CEO
of LandCap Partners. "Scott's broad and deep knowledge of the market
place will be invaluable as we make investments in the Western United
States, especially in California where he continues to be a leading
land executive."

Ouellette has built his real estate career in Southern California
over the last two decades. Most recently, Ouellette was Executive Vice
President for KB Home in charge of the North Los Angeles/Ventura
Division's land acquisitions, asset management and escrow operations.
While there he expanded the business to market dominance through land
acquisitions in excess of $450 million in land with over 5,000 home
sites. Prior to that he served in roles as Vice President of Land
Acquisition and Vice President of Finance for Richmond American Homes
(A division of M.D.C. Holdings, Inc.) where he built a new division
and managed several land deals with Newhall Land & Farming, Ryland,
Suncal as well as KB Home. Ouellette has also served as CFO for the
Larwin Company, Financial Manager for Watt Industries and Assistant
Controller for Woodcrest Development all residential home builders and
land developers in Southern California. Ouellette completed his CPA
training at Deloitte & Touche.

"I am thrilled to be joining LandCap Partners at this exciting
time in the real estate market. I look forward to providing a variety
of equity and debt vehicles to many of the big builders I previously
worked for or have done business with," said Ouellette.

A native Californian, Ouellette is a graduate of California State
University, Fullerton. He also was a police officer for the Los
Angeles Police Department and is a certified public accountant.

LandCap Partners is a private real estate company providing
capital for residential land transactions through options contracts,
conventional and participating loans and joint-venture equity
investment. Headquartered in Los Angeles, the company has offices in
Washington, DC and Florida.

For more information, call 1-310-432-2730 or
www.landcappartners.com.

LandCap Partners
Caroline Shaw, 310-432-2730

Copyright Business Wire 2008