With this opening Crestline manages eight properties in the Atlanta metropolitan market, including full-service hotels and conference centers and three Residence Inns.  Dave Durbin, Crestline�s Chief Operating Officer, stated �This is the third property we�ve opened in the last two months.  Despite the general downturn in the hospitality, our urban limited-service hotels, are performing quite well.  We anticipate continuing to grow our portfolio of upscale urban limited-service hotels."

David L. Durbin Chief Operating Officer Crestline Hotels & Resorts

Songy Partners Limited, an Atlanta-based private commercial real estate firm, developed the property, converting a vacant office building into an upscale extended-stay hotel.   During the opening ceremony, Spurge Richardson, from the Atlanta Convention Visitors Bureau, stated, �Songy Partners and Crestline took a blighted property on Peachtree and gutted and skinned the building and turned it into the best looking Residence Inn I�ve seen.�   

Rick Patton, Songy Partners� Senior Development Officer stated, �The financial returns are much stronger for repositioning compared to ground-up development.�  Rick added, �Because of lower than expected interest rates and Crestline�s efficient pre-opening process, we�ve been able to spend additional dollars on upgrading the FF&E package and some other finishings, making this a higher quality Residence Inn."  

The 160-suite hotel will offer multilevel underground parking and will provide all of the amenities of an upscale Residence Inn including complimentary breakfast and an evening hospitality hour.  Other guest amenities include a large club room with breakfast bar, and well-stocked library.  The hotel also features suites on the top level with loft-type ceilings and spectacular views of the downtown Atlanta skyline. The Atlanta Midtown Residence Inn will be Crestline Hotels & Resorts� fourth Residence Inn branded hotel and 36th property under management. 

Crestline Capital Corporation is the parent company of Crestline Hotels & Resorts, among the nation's leading independent hotel management companies.  The Company also leases and has investments in hotel properties.  

Crestline Hotels & Resorts manage and lease 36 hotels, resorts and conference and convention centers with nearly 7,000 rooms in thirteen states and the District of Columbia.  Crestline Hotels & Resorts manages properties independently and under such well regarded brands as Marriott, Hilton, Sheraton, Renaissance and Crowne Plaza.   
 
Certain matters discussed herein are forward-looking statements within the meaning of the Private Litigation Reform Act of 1995.