TWELVE® Atlantic Station® named “Best Condo-Hotel” by the National Association of Home Builders (NAHB)

Atlanta, GA - (April 25, 2007) - Novare Group, one of the leading developers of high-rise condominiums in U.S. urban markets, announced today that its TWELVE® Atlantic Station® development was named “Best Condo-Hotel” by the National Association of Home Builders (NAHB) at its recent Pillars of the Industry Awards, held earlier this month in Hollywood, Florida. The Pillars honor excellence in multifamily design, development, marketing and management, and are considered the most prestigious national awards in the multifamily housing industry. NAHB recognized winners for excellence and superior leadership in more than 30 categories as part of its annual conference for apartment and condominium developers.

“We are honored to receive an award with the prestige and standing of the Pillars,” said Jim Borders, president of Novare Group. “Our business model at TWELVE was largely untried outside the luxury tier when it was introduced. We are pleased with the success of TWELVE Atlantic Station, and it is gratifying to receive such an honor from our peers. This lends further validation to our concept."

TWELVE Atlantic Station is the first development of TWELVE Hotels & Residences, a subsidiary of Novare Group, which combines an all-suites boutique hotel offered at business rates with attainably-priced condominium residences. TWELVE Atlantic Station is noted for its high-tech features, including GHOST^SM (Guest Hotel Operating System Terminal), an in-room application that allows hotel guests to request various services online via flat-screen monitor, keyboard and mouse that are standard in every TWELVE hotel suite. Guests can order room service, make specific housekeeping requests (additional bath linens, sewing kit, toiletry items, etc.), contact the concierge, request their car from the valet, order laundry/dry cleaning and much more. Also available at TWELVE are touch-screen check-in kiosks and free ultra-high-speed Internet and Wi-Fi access in every suite and throughout the hotel.

Condominium residences feature sleek, contemporary architecture with floor-to-ceiling glass walls, kitchens with granite and stainless steel, 10-foot ceilings, and a private residential lobby entrance. Both residents and guests have access to a host of amenities, including room service, in-house restaurant and bar, housekeeping, 24-hour concierge and valet parking. Other amenities include an elevated pool terrace, fitness center, clubroom, and controlled-access parking.

TWELVE Atlantic Station opened to its first guests in February 2006. A second development, TWELVE Centennial Park, will open in late summer 2007 near downtown Atlanta. Novare Group has also announced TWELVE Hotels & Residences projects in the Third Ward area of Charlotte and the Arts District of downtown Tampa. For more information, visit the website at www.twelvehotels.com.

About Novare Group
Novare Group is a leading developer of high-rise residential communities in urban markets, with more than 5,000 condominium units under development in Atlanta, Austin, Charlotte, Nashville and Tampa. Elevating urban living to a new standard, the Company's high-rise communities feature contemporary designs, rich amenities, and cutting-edge high technology features at attainable price points. For more information, please visit the Company's Web site at www.novaregroup.com.