DEAN SHAPIRO JOINS BUILDING AND LAND TECHNOLOGY

Norwalk, CT - (March 17, 2008) - Building and Land Technology President and CEO, Carl R. Kuehner, III announced today that Dean J. Shapiro has joined the firm as Chief Operating Officer and Partner. According to Kuehner, "Dean brings depth and breadth to our organization with nearly 20 years of commercial real estate experience. BLT's exponential growth in this market over the past several years and the world class level of our tenants have necessitated this strategic addition to our company. We're very pleased to have Dean on board".

As COO, Mr. Shapiro will participate in all aspects of BLT's operations, with an emphasis on overseeing the leasing and day-to-day management of BLT's portfolio of more than 2-million square feet of Class A+ office space in Connecticut, and assisting in the acquisition of additional properties in the Tri-State Region. "I'm thrilled", stated Shapiro, "to be joining a group that I have come to admire, and to be focusing on markets to which I'm deeply committed".

Most recently, Mr. Shapiro was Executive Managing Director of CB Richard Ellis' New York City brokerage division with responsibility for all activities relating to the firm's operations at its NYC headquarters. Prior to that he served as Senior Managing Director of CBRE's Westchester/ Fairfield operation. At CBRE, Dean was the two-time recipient (2004 and 2007) of the firm's second highest managerial distinction, the President's Performance Award, for his work in both Westchester/Fairfield and New York City, and was the recipient (2006) of the firm's highest managerial distinction, the Chairman's Award, given to the top manager nationwide. A highly knowledgeable and respected real estate professional, Mr. Shapiro is a Board Member of The Business Council of Fairfield County, and of the Commercial Division of the Real Estate Board of New York. He has held numerous positions in real estate associations including NAIOP and ULI, and is involved in a variety of philanthropies.

Mr. Shapiro is a graduate of Vanderbilt University (BA Economics), Cornell University/London Business School (MBA) and participated in an Executive Education program at Harvard Business School.

A second-generation real estate development company, Norwalk-based Building and Land Technology has completed ventures worth more than $2 billion and currently has over 2,100,000 square feet of class "A" office space under ownership/management. BLT trophy properties host the headquarters for GE Commercial Finance, Diageo, GE Real Estate, Xerox, GE Energy Financial Services, IMS Health, GE Treasury and Hewitt. BLT's numerous office parks, apartment complexes, single family subdivisions, common interest communities and adaptive reuse projects total in excess of 8,000,000 square feet of development throughout Fairfield County.

For additional information please contact Paul Kuehner, 203.846.1900 x 1522, Paul@BLToffice.com.