Milestone Advisors Announces Request for Qualifications and Bid Invitation for $275 Million Acquisition, Development and Construction ('ADC') Portfolio Sale

November 6, 2009

Preliminary qualification and indicative bid process begins Friday, November 6th

PASADENA, Calif., Nov. 6 /PRNewswire/ -- Milestone Advisors is soliciting interest from prospective bidders to participate in a preliminary qualification and indicative bid process. Interested parties can find additional portfolio information, stratifications, and bidder qualification selection procedures at http://www.milestonearc.com/?page_id=462. Milestone Advisors, and its affiliate Milestone Asset Resolution Company, LLC ("MARC") provides land and construction loan asset management services to government, financial institutions, and private equity interests. MARC specializes in assisting financial institutions and private investors in the structuring and liquidation of distressed ADC assets.

Portfolio highlights:

    --  $275 million ADC loans for residential and commercial real estate
    --  Loans located in 4 western states including CA (54%) and OR (28%)
    --  $51 million OREO assets
    --  Loans originated 1998 through 2008
    --  Status ranging from non-performing, foreclosure to bankruptcy
    --  Indicative bids from qualified bidders due November 18, 2009
    --  Final bids from qualified bidders due December 10, 2009

    --  Closing date on or before December 22, 2009

(Dates are subject to change)

The subject portfolio contains 92 non-performing loans (with an approximate unpaid principal balance of $224 million) and 47 OREO assets (appraised valued at $51 million) from a western regional financial institution seeking to liquidate the assets through the bid process. Milestone Advisors is acting as marketing agent and financial advisor to the financial institution in connection with the indicative bid process.

Asset types include land loans, land acquisition and site improvement loans, construction loans for residential and commercial properties, one to four conventional residential loans, greater than five unit residential loans, general purpose commercial loans, and loans secured by agricultural real estate. The portfolio contains loans originated from 1998 through 2008, with the majority originated in 2005 and 2006. The average loan balance is $2.43 million, excluding OREO. The average OREO balance is $1.08 million.

Bidders may elect to bid on individual loans or OREO assets, specific collateral types, or on loans concentrated in specific geographic locations. In order to qualify for this transaction, bidders will be required to complete bid registration forms and provide preliminary qualification information. Detailed bidding procedures and a calendar of events can be reviewed at the above- referenced Web site.

    For questions, please contact:

    Alain Toto
    Milestone Advisors
    Atoto@milestonecap.com
    786.528.1902

    Darryl Conway
    Milestone Advisors
    dconway@milestonecap.com
    202.741.3665

    Drew Buccino
    Milestone Asset Resolution Company
    Drew.Buccino@milestonearc.com
    877.900.6272

    Jim Fraser
    Milestone Asset Resolution Company
    Jim.Fraser@milestonearc.com
    877.900.6272

    Media Contact:
    Milestone Advisors, LLC
    Joan Morgulec
    202.362.2305
    jmorgulec@milestonecap.com

About Milestone Advisors

Milestone Advisors is the financial advisory division of Milestone Merchant Partners, LLC and is a FINRA licensed broker-dealer. Milestone Advisors is a national investment bank dedicated to specialty lending businesses and depositories. Milestone Advisors principals and professionals have extensive experience, having completed over $16 billion in M&A and corporate finance transactions through approximately 290 engagements. Milestone Advisors is headquartered in Washington, DC with additional offices in Miami, FL, Newport Beach, CA and New York, NY. Additional information and recent transaction activity can be reviewed at www.milestonecap.com or www.milestonearc.com.

This preliminary announcement is not an offer to sell or a solicitation of an offer to purchase all or part of the portfolio. Additional information concerning the proposed transaction will only be provided to- and bids will only be accepted from-those who certify that they have the knowledge, experience, and resources to become qualified bidders. The purchase of all or part of the portfolio involves substantial risks, and prospective bidders and their advisors should undertake such investigation as they deem necessary to fully evaluate those risks. This preliminary announcement is directed solely to the party to whom it was transmitted and should not be reproduced or retransmitted in whole or in part.

SOURCE Milestone Advisors