FOR IMMEDIATE RELEASE

Extell Unveils Avery, New Amenity-Rich Condominium at Riverside

Luxury Condominium Forms Exclusive Partnership with Lincoln Center for the Performing Arts

New York - Avery, Extell Development Company's premier luxury condominium on the Upper West Side, will offer residents a balanced lifestyle with spectacular river and city views, unparalleled amenities and exclusive access to Lincoln Center for the Performing Arts.

The 32-story, new-construction residential building will overlook the Hudson River and Riverside Park between 64th and 65th streets. Designed by Schuman, Lichtenstein, Claman and Efron (SLCE) Architects, Avery's 274 one-, two- and three-bedroom residences are priced from approximately $850,000 to more than $3 million. The homes will be ready for occupancy in 2007.

Only steps away from the Lincoln Center for the Performing Arts, Avery has forged an unprecedented arrangement with the Center. As part of an exclusive package, residents will receive special memberships with discounts on programs and access to the Center's patrons' desk. Through the patrons' desk, residents will be able to obtain the best available tickets to performances at the Philharmonic, Metropolitan Opera, New York City Ballet and other Lincoln Center organizations.

In addition, Lincoln Center will come to Avery's in-house theater and lounge areas with monthly performances from musicians, actors and singers and will offer "Meet the Artist" programs, which feature lively, interactive presentations for children. Residents will also receive special viewings and discounts on Lincoln Center artwork, and Lincoln Center will curate the Avery library, offering recommendations for the building's literature and music.

Avery will provide additional outstanding amenities including a 30-person screening theater and a game room featuring a tournament-style billiards table and dart boards. A landscaped private courtyard, a library equipped with 24-hour WiFi access and an adaptable entertainment lounge ready to accommodate any occasion will give residents ample room to entertain. Avery will also feature an onsite garage and a state-of-the-art fitness center that overlooks a large children's playroom. Abigail Michael's hotel-style concierge service and a 24-hour doorman will provide convenience and safety.

Each residence will feature beautiful combinations of stone, porcelain and glass. Kitchens will include either Brazilian Cherry or Doussie Tinto wood flooring with ribbed aluminum upper cabinets complemented by a selection of wood-veneer lower cabinets, granite or stone countertops with glass-tile backsplashes, and Sub-Zero and Miele appliances. Master baths will have St. Croix limestone tiling with Travertine counter tops while secondary baths will include Mélange porcelain tiling with honed limestone counter tops. Kitchens and baths will boast fixtures by Waterworks, Toto and Kohler. All homes will also have stacked washer/dryer units.

Avery is Extell's debut development at Riverside, an emerging neighborhood on the Upper West Side. In addition to Lincoln Center and Riverside Park, Avery is near the American Museum of Natural History, Children's Museum of Manhattan and New York Historical Society.

Corcoran Group Marketing is the exclusive marketing and sales agent. The sales and design gallery is located at 422 West 70th Street. To schedule an appointment please call 212-769-1100 or visit www.averyriverside.com.

Developer

Extell Development Company

Extell Development Company is a nationally acclaimed real estate developer of residential, office, hotel and retail properties. Respected by the world's leading architects and distinguished by innovative thinking, Extell exceeds market expectations while delivering the dream behind each building. Extell's current New York developments include Orion in the Theater District, Altair 18 and Altair 20 condominiums in Chelsea, Ariel East and Ariel West in the West 90s, and The Stanhope at 995 Fifth Avenue.