Combined Properties, Incorporated is pleased to announce that Sri Velamati has joined the company and will serve as President/Chief Investment Officer.

As the President/CIO, Mr. Velamati will be responsible for directing the Company's strategic acquisition, development, and leasing initiatives. Currently, Combined has a $1 billion development pipeline that includes residential and hotel projects, featuring retail components on the ground level, in the Washington, DC and Southern California metropolitan areas.

Mr. Velamati has a keen perspective of the real estate industry with over 20 years of experience. Prior to joining Combined, he was the COO/Senior Vice President for The Tower Companies where he oversaw development, leasing, and operational efforts for their 5 million square foot portfolio and 8 million square foot development pipeline. Prior to that, he was President of APV Ventures and Development Director for Archstone Smith.

Ronald S. Haft, Chairman of Combined Properties, stated, "Combined's future is about creating and developing residential and retail environments that embrace the people's needs in a time of dynamic and technological change. With Sri's skills, we will accelerate and enhance our ability to realize this vision."

Mr. Velamati earned his Masters in Real Estate Development, from the Massachusetts Institute of Technology and his Bachelor in Economics, from the University of Pennsylvania. He has served on the boards of NAIOP DC/MD and Strathmore Music Center. He is an active member of the Urban Land Institute and the International Council of Shopping Centers.

Combined Properties Background

Combined Properties, Incorporated currently has over a $1 billion portfolio comprised of 40 retail and mixed-use properties growing to over a $2 billion portfolio with over 6 million square feet including current projects under development. In addition, it controls an additional $1 billion development pipeline in the Washington, DC and Southern California metropolitan areas. Since its founding by Chairman Ronald S. Haft, Combined Properties has always looked for the true potential of a commercial property. The Company strives to apply its creativity and expertise in development, finance, leasing, and asset management to shape projects into innovative lifestyle residential, retail, and hospitality communities that instill pride and joy in the people that live, shop, and stay there.

For more information on Combined Properties, visit www.combined.biz.