New Boston Fund Sells Triangle Business Center Portfolio

400,000 square-foot complex includes flex and office space


DURHAM, NC (October 5, 2007) - New Boston Fund, Inc., a real estate investment, development and management firm, recently announced the sale of Triangle Business Center, a four-building office complex located in Durham, North Carolina, to BPG Properties Ltd. CB Richard Ellis was New Boston`s broker on the sale.

The property includes three single-story flex buildings and one two-story office building constructed between 1984 and 1988 totaling nearly 400,000 sf. The buildings are located in the Research Triangle Park/I-40 submarket. In addition, it is situated 6.5 miles west of the Raleigh-Durham International Airport at the intersection of Southern Parkway and Miami Boulevard.

"New Boston Fund acquired the Triangle Business Center portfolio seven years ago due to its high quality and positioning in the marketplace." said Jon Gillman, Senior Vice President of Asset Management at New Boston Fund. "The timing of the sale meets our investment objectives and offers the best opportunity for our investors."

The property is 83% leased and major tenants include Kendle, Qualex and Teleflex Medical. Adjacent to the center sits Research Triangle Park, the largest planned research park in the world.

Triangle Business Center was acquired by New Boston in 2000 with funds from New Boston Fund V.

About New Boston Fund

New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $4.0 billion including 20 million square feet of commercial real estate and 6,700 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value add and urban real estate investment funds with a focus on diversification and capital preservation. New Boston Fund: People, Values, Returns.