New Boston Fund Adds New Talent to Florida Office

Real Estate Investment Firm Expanding Base

Miami, FL (January 2007) - New Boston Fund, Inc., a Boston-based real estate investment, development and management firm, recently announced that Michael Pecar has joined the firm as the Southeastern Regional Investment Manager. Based in Miami, he will serve as a counselor for the Florida team as the firm continues to expand its commercial acquisition and development work in the state.

Pecar brings more than 25 years of experience in real estate acquisitions and development. He was previously a senior executive with Melvin Simon & Associates and O`Connor Management in California, where he was involved in the development and acquisition of retail and office properties.

Pecar will join the experienced Southeastern team lead by Phillip Bakalchuk, Senior Vice President of Acquisitions and John Dragat, CIO & Co-Managing Director of New Boston Fund`s Urban Strategy America Fund. Bakalchuk and Dragat have been leading New Boston Fund`s expansion into the Florida real estate market with developments and acquisitions in Orlando, Miami and Tampa.

Bakalchuk is originally from Miami and has extensive experience in development and acquisitions along the East Coast. He is also a licensed architect and has been instrumental in identifying new investment opportunities for New Boston Fund in the Southeast. Dragat has well over 20 years of real estate development experience and is an expert in urban, mixed-use and large-scale complex commercial and residential projects.

New Boston Fund`s current projects include the Preserve at Deer Park, a 448-unit, garden-style apartment community in Lutz; the Vista Club, a joint-venture condo-hotel re-development in Orlando; and the Gallery Arts Condominiums in Miami.

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.