New Boston Fund Expands Mid-Atlantic Portfolio

New Boston Acquires One Harmon Plaza in New Jersey

Seacaucus, NJ (1/22/07) - New Boston Fund, Inc., a real estate investment, development and management firm, recently announced the purchase of One Harmon Plaza, a 10-story "Class A" office building located in Secaucus, NJ with views of the Manhattan skyline. The building was acquired in joint venture with Prism Capital Partners LLC, a New Jersey based real estate investment and development company. This is the third real estate joint venture acquisition between the partners.

"We are very excited to again be partnered with Prism Capital Partners on this project," said John Thompson, Vice President of Acquisitions for New Boston Fund`s Mid-Atlantic region. "One Harmon Plaza is a quality, well located asset with significant upside potential that will make it a valuable addition to our Mid-Atlantic portfolio."

A Class "A" office building, One Harmon Plaza is currently is 65 percent occupied and offers both large and small tenants efficient floorplates, attractive views and easy access to nearby roads and highways. The property is part of a mixed-use complex that also includes a 330 room Crowne Plaza Hotel. New Boston Fund is planning to invest several million dollars to renovate the lobby and upgrade the building facade.

One Harmon Plaza is located in Hudson County, NJ a Meadowlands submarket of Northern NJ. It is just off exit 16 of the New Jersey Turnpike in and within 15 minutes of New Jersey`s major commuting routes of Interstate 280. New Boston Fund purchased the property from Hartz Mountain Industries. Hartz Mountain developed 10 Harmon Plaza in 1978, and it originally served as their headquarters. Cushman and Wakefield`s Metropolitan Area Capital Markets Group represented the seller and procured the buyer. Andrew Merin, David Bernhaut, Gary Gabriel and Jose Cruz headed the assignment.

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.

About Prism Capital Partners

Prism Capital Partners is a privately held real estate organization with material financial interests in the ownership, management, acquisition and development of income producing real estate. The principals of the company have more than 55 combined years of experience in the commercial real estate industry. The company invests in a wide range of real property types including office, industrial, retail, multi-family, land, single family, hotel and self-storage.