New Boston Names Patrick Shooltz Regional Director of Development for the Mid-Atlantic Region

Firm continues rapid growth

WASHINGTON, D.C. (1/26/2007) - New Boston Fund Inc., a Boston-based real estate investment, development and management firm, recently announced Patrick Shooltz has been hired as Regional Director of Acquisitions and Development for the Mid-Atlantic. In this role, Shooltz will be responsible for setting the regional strategy and overseeing New Boston Fund`s regional investment projects for the Mid-Atlantic.

"Patrick`s appointment enhances our already strong Mid-Atlantic team and we are excited to fulfill our goal of building a robust acquisitions and development team in this region," says Jim Kelleher, Chief Investment Officer and Director of Acquisitions. "Patrick Shooltz has over 20 years of experience in the DC area and he will be an asset to our growing office."

Before joining New Boston Fund, Shooltz was Senior Vice President for Business Development at WEST-GROUP in McLean, VA where he oversaw the development of office buildings, campus office parks, warehouses, and industrial parks. Prior to that, he was self employed at Hucklebee Consulting Group where he provided development and real estate consulting to banks, institutional owners and investors. Shooltz was also a Regional Vice President and Portfolio Manager for all development, leasing, sales and financing at Cabot, Cabot & Forbes.

"Patrick`s expertise in the Washington, D.C. region will allow us to have the same strengths and advantages as a local firm and to take our commitment to this region to a new level," said Kelleher.

Shooltz has a BS from Fordham University and a JD from Hofstra University. He began his career as an attorney specializing in real estate law.

About New Boston Fund

New Boston Fund is a privately held real estate investment and development company led by seasoned real estate practitioners and known for its exceptional returns for investors. New Boston has developed or acquired commercial and residential properties with a cumulative market value of over $3.3 billion including 19 million square feet of commercial real estate and 5,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value add and urban strategy real estate funds. The New Boston Fund: People, Values, Returns.