New Boston Fund purchases 200 Keystone

Renovations will update facility for distribution and warehouse use


Dunmore, PA - April 12, 2007 -- New Boston Fund, Inc., a real estate investment, development and management firm, recently confirmed the purchase of the former Thomson Electronics Facility at 200 Keystone in Keystone Industrial Park. The facility is located in Dunmore, Pennsylvania near Scranton. The purchase and planned renovations are a joint-venture project with Caracor Development, Inc.

"This facility is a great addition to our portfolio," says John Thompson, Director of Acquisitions for New Boston Fund`s Mid-Atlantic region. "This project is a perfect value-add opportunity for our company. We are eager to use the expertise of our team to give this former manufacturing facility a new life."

The development team, known as New Boston Caracor Dunmore Realty, LP, will transform the former manufacturing facility for distribution and warehouse uses. The property includes a 500,000 SF building on 42 acres. Unique features include 26 foot clear ceilings. Renovations will include new sprinklers, concrete flooring, dock doors, and heating and lighting throughout the facility.

The property is also strategically located with close proximity to major highways and the New York and Philadelphia markets. It is situated in the Keystone Industrial Park at the intersection of Route 81, Route 84, and Route 6, just above the northeast extension of the Pennsylvania Turnpike.

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.

About Caracor Development, Inc.

Caracor (www.Caracor.com) is a privately-owned development company headquartered in Allentown, PA which operates throughout Eastern Pennsylvania. The company invests in all major commercial real estate property types, including industrial, retail, office, multi-family and undeveloped land.