New Boston Fund Purchases Cameron Lakes

Apartment complex is latest investment in multifamily market

Tampa, FL?- February 8, 2007 - New Boston Fund, Inc., a real estate investment, development and management firm, recently acquired Cameron Lakes Apartments in Clearwater, Florida in a joint venture with BH Equities of Des Moines, IA. Cameron Lakes, which is a 207 unit Class "B" apartment complex, represents the second joint venture acquisition between the partners.

"This is an example of our value-add strategy and our increasing investment in the multifamily market in Florida," says Phillip Bakalchuk, Senior Vice President of Acquisitions for New Boston Fund. "We are eager to grow our portfolio here and we are committed to working with strong joint venture partners like BH Equities."

Cameron Lakes is comprised of 11 two and three-story buildings surrounding a lake, and is strategically located on newly completed Route 19 in Clearwater, Florida. As part of New Boston Fund`s value-add strategy, the Company plans to add a new fitness club and business center to the complex, improve the landscaping and lakeside amenities along with interior upgrades to the units` bathrooms and kitchens.

Cameron Lakes is New Boston Fund`s third apartment complex acquisition and repositioning in the Southeast within the last year. The property is located 15 minutes from downtown Tampa and 15 minutes from downtown Clearwater.

-This acquisition is consistent with NBF`s strategy of purchasing existing cash flowing assets with value added upside potential in high growth barrier to entry markets, and Pinellas County is considered Florida`s most densely populated county.

About New Boston Fund, Inc.

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 $3.6 billion including 19 million square feet of commercial real estate and 6,200 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.