FOR IMMEDIATE RELEASE

995 FIFTH CELEBRATES GRAND OPENING
EXCITING EVENTS HERALD EXCEPTIONAL FIFTH AVENUE RESIDENCES

New York, NY (April 17, 2007) - Gary Barnett, president of Extell Development Company, announced today the opening today of 995 Fifth Avenue. Proudly taking its place in the pantheon of exclusive residential addresses in New York City, 995 Fifth Avenue was originally conceived in the 1920s by famed architect Rosario Candela, one of the foremost architects of New York residential apartment buildings. Today, 995 Fifth Avenue has been re-mastered into 26 full and half-floor homes of rare scale and elegance by noted architectural firm, Cetra/Ruddy, Inc. Highlights of these gracious homes include elegant entry galleries, expansive drawing rooms, formal dining rooms with pocket doors and grand master bedroom suites.

The residences at 995 Fifth Avenue were reconfigured by Cetra/Ruddy into spacious homes that range from 4,400 - 8,800 square feet and include an extraordinary top-floor, 7,000 square foot penthouse featuring an outdoor terrace of 5,000 square feet with dramatic views of the Metropolitan Museum of Art and across Central Park.

The talents of John Simpson, world-renowned preservationist and architect to the Queen of England, have been incorporated into 995 Fifth Avenue with his architecturally sophisticated lobby design and select residential finishes Simpson chose using updated traditional forms to respond to contemporary requirements and modern technology.

The opening of 995 Fifth Avenue will be celebrated with an on-going series of charitable and cultural events to be held in two model apartments designed exclusively for 995 Fifth Avenue by noted interior designer Eric Cohler. These events will benefit The Jewish Museum, Casita Maria and The Breast Cancer Research Foundation among others. There will also be book signings and lectures by cultural and literary luminaries as well.

To assist potential owners in envisioning their modern-day Fifth Avenue lifestyle, designer Eric Cohler designed two stunning model residences representing two half-floor homes incorporating up-to-date appointments and state of the art technology. For each, Cohler has applied a distinct perspective, one traditional and the other contemporary, for every room.

For the contemporary residence, Cohler employs a neutral elegant palette for the drawing room and formal dining room while the master bedroom suite is ensconced in shades of soft green creating a serene and restful oasis. The traditional home features rich mahogany trim, elegant inlaid mahogany floors with floral detail and beamed ceilings. The model residences are located on the north and south wings of the building overlooking Fifth Avenue and the Metropolitan Museum of Art. Eric Cohler's design services are available for purchasers who would like to customize their homes to their specific taste and lifestyle needs.

Owners at 995 Fifth Avenue will select from a portfolio of superb finishes and an extraordinary range of contemporary and traditional custom features - from an exquisite selection of architectural moldings and wood floors to elegant stone finishes for kitchens, bathrooms and entryways. Exclusive Smallbone of Devizes custom kitchen cabinetry befits such custom homes, as do the premier appliances by Sub-Zero, Viking and Miele.

An extensive array of distinctive amenities characterizes the lifestyle at 995 Fifth Avenue. Beginning with a 24-hour doorman and full-time concierge, owners will enjoy the exclusive services of La Palestra, the highly regarded fitness program which offers consulting and personal training in the building's private, on-site La Palestra health and fitness center. Wine collectors will appreciate the exclusive sommelier and wine consulting services by noted wine merchant, John Kapon, president of Acker Merrall & Condit, America's oldest wine store with the most comprehensive collection of fine and rare wines in the country. Finally, Concierge Direct, an expert home automation and technology consultant, will personalize and expand upon the superior technology package built into each of the 995 Fifth Avenue residences.

Centered within the exclusive enclave of Upper East Side at 81st Street and Fifth Avenue, 995 Fifth Avenue is brilliantly situated at the nexus of New York culture and history surrounded by renowned museums, international boutiques, fine restaurants and elite private schools.

Prices for the residences at 995 Fifth Avenue begin at $10,250,000.

Occupancy is scheduled for January 2008.

995 Fifth Avenue Sales Center

995 Fifth Avenue at 81st Street

New York, New York 10021
212.570.9950
www.995FifthAve.com

Developer

Extell Development Company

Extell Development Company is a nationally acclaimed real estate developer of residential, office, hotel and retail properties. Under the leadership of Gary Barnett, Extell exceeds market expectations while delivering the dream behind the building. Among the company's current New York developments is 995 Fifth Avenue, the Orion, one of Manhattan's six tallest residential buildings and Ariel East and Ariel West, two exquisite glass towers on the Upper West Side. With a portfolio exceeding 10 million sq. ft, Extell has gained a reputation for its acute ability to acquire and turn around projects that consistently outperform in the marketplace.

Architecture and Apartment Design

Cetra/Ruddy Inc.

Cetra/Ruddy Inc. is an award-winning architecture and interior design firm, providing comprehensive services in architecture, interior design and urban design for commercial, residential, institutional and development clients. The principals of the firm have been designing unique residential buildings for New York's most sophisticated developers and individuals for the past 25 years. The firm's work for 995 Fifth Avenue is a harmonious blend of modernism with deference to the grand historic era of the building.

Interior Finishes and Lobby

John Simpson & Partners

John Simpson's approach revolves around the notion that architecture is a public art where each building's façade forms the character and shape of the public realm. Based in the Bloomsbury section of London, the practice specializes in timeless architecture that uses updated traditional forms to respond to contemporary requirements and modern technology across Britain, Europe and the USA. In addition to 995 Fifth Avenue, high profile commissions include the Galleries at Buckingham Palace and the Royal Worcester Porcelain factory.

Interior Design/Model Residences

Eric Cohler

Eric Cohler creates interior designs that infuse traditional forms with the unexpected. Considered one of the country's leading designers, industry magazine editors have dubbed Cohler the "Mixmaster" for his use of contemporary materials, which, juxtaposed with classical elements, give his interiors a jolt of unusual color and texture. His projects include residences and commercial spaces across the U.S., Europe, and the Caribbean. House Beautiful has described him as one of the 14 "best of the best" in the "next wave of designers in America," and he is included annually in their "Top 100" issue.

Exclusive Sales and Marketing

Corcoran Sunshine Marketing Group

Corcoran Sunshine Marketing Group offers an impressive array of new residential development for the discerning home buyer and a broad spectrum of services for residential developers. With 20 years of experience in marketing and collective sales in excess of $15 billion, the company combines the powerful distribution network of The Corcoran Group with the unparalleled marketing expertise of The Sunshine Group. Corcoran Sunshine is the recognized industry leader in the pre-development planning, marketing, and sales of luxury residential properties.

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