RUSSELL TEPPER, VICE PRESIDENT OF MATRIX DEVELOPMENT GROUP, HONORED BY NJ-NAIOP WITH PRESIDENT’S AWARD AND BOARD MEMBER NOMINATION

CRANBURY, N.J. (January 22, 2008) –  Russell Tepper, vice president of Matrix Development Group, the Cranbury-based real estate investment and development company, received the President’s Award from the New Jersey Chapter of the National Association of Industrial and Office Properties (NJ-NAIOP) during their awards dinner on November 5 at The Palace in Somerset.

“Russell Tepper was highly recommended for this award. He was personally selected as the Community Action Committee member most deserving of this honor,” said NJ-NAIOP President Allen Magrini, of Hartz Mountain Industries. “We are delighted to recognize Russell for his hard work, leadership and dedication to giving back.”

Rick Lechtman and Dave Houston, chairmen of the Community Action Committee, nominated Tepper for the award, based on his dedication to the association’s goals and his involvement with community based programs. The Community Action Committee, of which Tepper served as co-chair for four years, aims to provide opportunities for NJ-NAIOP members to give back to their communities while providing leadership in revitalizing New Jersey’s urban and older communities, providing safer and better places to live, work and play.

“Any recognition from colleagues within the industry is always appreciated,” Tepper said. “This award is especially gratifying because it deals with community outreach and action. It goes beyond day-to-day business and allows association members to invest in individual neighborhoods and improve the quality of life in New Jersey.”

The President’s Awards Dinner, first held in 2005, is a way to honor all NJ-NAIOP members, but especially those who volunteer for various committees and work to achieve the chapter’s goals of improving the professionalism of individual association members, the image of the industry and the quality of life in New Jersey communities.

In recognition of Tepper’s continued active participation in the association, he has also been nominated a new board member for NJ-NAIOP. The full board will vote on his appointment on January 28th at its annual board meeting.

About Matrix Development Group

Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The Company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the Company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.

For more information on Matrix Development Group, please contact the Company’s Cranbury, New Jersey office at 732.521.2900 or visit www.matrixcompanies.com.

About NJ-NAIOP

The New Jersey Chapter of the National Association of Industrial and Office Properties (NJ-NAIOP) is the trade association for developers, owners and investors in industrial, office and related commercial real estate. Founded in 1970, the NJ Chapter is comprised of over 400 members and offers its members business and networking opportunities, education and professional development programs, research on trends and innovations and strong legislative and public affairs representation. The New Jersey Chapter is part of the larger NAIOP organization founded in 1967, which is comprised of over 10,000 members in 48 chapters throughout North America.

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