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Exeter News Wire

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William L. Exeter

President and Chief Executive Officer

Exeter 1031 Exchange Services, LLC

(619) 615-4210

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Tara McDowd Hired as Operations Administrator

Exeter Expands 1031 Exchange Operations Group

July 5, 2006--San Diego, California--Exeter 1031 Exchange Services, LLC announced today that Tara McDowd has agreed to join its 1031 Exchange Operations Group in the position of 1031 Exchange Operations Administrator.

Ms. McDowd will be responsible for the day-to-day cash management, trust accounting, investment reconcilements, and 1031 exchange file audits.  Ms. McDowd will be located in our national corporate headquarters office in San Diego, California.

"Tara is a great addition to our expanding team of 1031 exchange professionals and our ever growing 1031 exchange national branch office network," said William L. Exeter, president and chief executive officer, Exeter 1031 Exchange Services, LLC.  Tara McDowd will report to Suzanne M. Davis, assistant vice president and national operations manager.

Mr. Exeter further stated that "Tara has a long-term relationship with the existing management team at Exeter and we are very excited that she has once again joined our 1031 exchange family.

Exeter 1031 Exchange Services, LLC is a leading national provider of Qualified Intermediary, Exchange Accommodation Titleholding, and Advisory services for tax-deferred like-kind exchange transactions pursuant to Section 1031 of the Internal Revenue Code.  Exeter 1031 Exchange Services, LLC administers all types of tax-deferred like-kind exchange transactions, including forward, reverse and improvement (build-to-suit or construction) 1031 exchange structures, in all 50 states.  Exeter 1031 Exchange Services, LLC currently has national office locations in San Diego, Los Angeles, Fresno, and San Francisco, California and Winston-Salem, North Carolina.

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