Direct Development & Construction filler

Direct Development Inc.
1240 Main St., Suite 1
Green Bay, WI 54302
tel. 920.430.1480
fax 920.430.1490
October 9, 2006

DIRECT DEVELOPMENT PROGRESSING ON PROJECTS VALUED AT MORE THAN
$128 MILLION


GREEN BAY, Wis. – Direct Development Inc., a three-time recipient of the Mayor’s
Beautification Award in Green Bay, is expanding its footprint outside of
Northeastern Wisconsin. With more than $128 million worth of projects underway
throughout the state and as far away as Nashville, Tenn., Direct Development is
becoming a major player in the commercial development industry.

“We’re proud of our successes in our home market, and we’re excited about the
opportunities we’re pursuing outside of Northeastern Wisconsin,” said John Hopfensperger,
president of Direct Development. “Our team’s expertise and creative vision are enhancing
the economic landscape of the communities in which we operate.”

Direct Development built its reputation on urban renovations as well as new construction
in the Green Bay area. Some of its local projects include the Johnson Bank building in
downtown Green Bay, new infill buildings in the Broadway district, and renovations of
Olde Town Crossing and Main Street Commons in the Olde Main Street district. The
company specializes in timeless, mixed-use developments within growing urban markets.


The following is a summary of major projects in progress outside of the Green Bay area:

Grafton (Wis.) Village Center
Construction began in spring 2006 on a pair of structures with 34,000 square feet of ground
floor retail and second floor office space. The $5.7 million development is set in a
pedestrian-oriented section of downtown Grafton and features a new building for
Grafton Ski and Cyclery. A key aspect of the project is a public-use plaza suitable for
outdoor dining in a café setting. The first building is in the final stages of construction,
with the second building set for groundbreaking in mid-November.

HarborPlace, Kenosha (Wis.)
Groundbreaking took place Sept. 28 for HarborPlace, an upscale condominium and retail
development adjacent to Kenosha’s Southport Marina. With an estimated total value of
$28 million, HarborPlace will include 63 residential condominiums, 16 town homes and
approximately 28,000 square feet of retail space featuring specialty stores and services.
HarborPlace eventually will comprise seven buildings, with four buildings planned for
the first phase. Construction on the second phase is anticipated to begin in the spring of 2007.

Rolling Mill Hill, Nashville (Tenn.)
Construction is underway on the first phase of a $70 million mixed-use development that
will include new construction and renovated historic buildings in Nashville’s SoBro
(South Broadway) District. Overlooking the Cumberland River and a short distance from
Nashville’s central business district, the Rolling Mill Hill site sits atop a hill formerly
occupied by Nashville General Hospital.

The project includes the renovation of some existing structures into unique loft-type living
units, including a 10,000-square-foot former power station, and the construction of two
new buildings. The first phase, with an estimated value of $40 million, could be ready for
occupancy in fall of 2007. It will be followed closely by a second phase valued at about
$25 million. Combined, the two phases will feature 241 residential condominiums and
apartments, and about 15,000 square feet of neighborhood retail space.

Work is underway to clean out the interiors of the three existing buildings that will be
renovated, and excavation work has begun for the parking decks situated below the two
new buildings. “Rolling Mill Hill offers a very unique opportunity for us to combine
renovated historic buildings with new construction,” Hopfensperger said. “The market in
Nashville is very strong, as evidenced by the $20 million in housing units at Rolling Mill
Hill that sold out recently in less than three days.”

Rolling Mill Hill will provide a free block of Green Power each month for one year as an
added benefit for condominium buyers. Green Power Switch® is a cooperative effort
between Tennessee Valley Authority and distributors of TVA power. The program uses
electricity from cleaner, greener sources such as wind, solar power and methane gas,
and adds it to TVA’s power mix. Green Power is sold in 150 kilowatt-hour blocks, with
one block accounting for 12 percent of typical household usage. Direct is one of two
developers awarded contracts for the Rolling Mill Hill project, the other being Streuver
Bros., Eccels and Rouse of Baltimore. More information is available at to www.RollingMillHill.com.

North Avenue Dorm, UW-Milwaukee (Wis.)
Direct Development is partnering with the University of Wisconsin-Milwaukee to build
a comprehensive off-campus dorm for freshmen and sophomores valued at $25 million.
Located in the River West neighborhood, the seven-story building will sit on a
5-acre site bordered by the Milwaukee River and North Avenue.

The project features 488 beds in 113 housing units, a fitness center, onsite laundry,
coffee shop, general store, dining facility, student lounge and study space, a
classroom/meeting facility, and faculty offices. The building will also have underground
parking for enhanced student and vehicle security. A very aggressive timeline targets a
mid-August 2007 completing date, in time for the start of fall semester classes.