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MATRIX DEVELOPMENT GROUP HIRES NEWMARK KNIGHT FRANK TO LEASE 100,000 SF VACANCY AT ONE RIVERFRONT CENTER AND RECENTLY APPROVED TWO RIVERFRONT CENTER (411,000 SQUARE FOOT) BUILDING IN NEWARK, NJ

Rare Opportunity Exists at the World-Class Commercial Center

NEWARK, N.J. (September 18, 2007) – Matrix Development Group, owners of One Riverfront Center in Newark, have appointed Newmark Knight Frank leasing agent for the top four floors of the Class-A commercial and retail tower widely recognized as the premier business address in Northern New Jersey and Two Riverfront Center, a recently approved 14-story, state-of-the-art, 411,000 square foot office building. The world-class One Riverfront, 20-story, 411,617 square foot facility also known as “The Legal Center” offers for lease over 100,000-square-feet on its top four floors.

Newmark Knight Frank Managing Director Hope G. Brodsky and Executive Managing Director Timothy R. Greiner will head the leasing team for the top four floors at One Riverfront Center and Two Riverfront Center.

“We are very excited to serve as a leasing agent for this desirable space,” said Greiner. “One Riverfront Center offers some of the most sought after Class-A office space in the Northeast and has consistently enjoyed 100 percent occupancy rates. There is presently an exceptionally rare opportunity for up to 100,000-square feet of space for lease at the prestigious facility. The additional development site at Two Riverfront Center is the only site approved in Newark and with immediate train access is one of the most desirable new construction sites throughout New Jersey. With a direct covered walkway to Newark’s Penn Station, this development provides tenants with the ability to access all major train stops in New Jersey as well as Boston, New York and Washington, D.C. via the Northeast Corridor Amtrak and Acela Express train lines.”

“Our assignment at One and Two Riverfront Center is a terrific opportunity to work with Matrix Development Group, one of the state’s most prominent development and investment companies,” said Brodsky. “The current space we are marketing is one of the premier office spaces in New Jersey and will appeal to those who want to be at the center of the business and legal activity in Newark. For those companies committed to Northern New Jersey and Newark, there is no better corporate choice than One Riverfront Center.”

Matrix recently invested $1.5 million in facilities upgrades at One Riverfront Center with enhancements including new state-of-the-art HVAC systems, security, valet parking and a multi-purpose meeting and conference facility.

“We are very excited about working with Newmark Knight Frank and the entire real estate brokerage community to attract a Class-A tenant to this space,” said Matrix Development Group Vice President Hilary Budny. “We are hopeful that this appointment will help serve as a catalyst for bringing tenants from outside Newark to experience the exciting changes taking place in this dynamic city.”

One Riverfront Center has a two-story lobby, parking garage and state-of-the-art security system. This 20-story building is widely recognized as the most desirable office building in North Jersey and has historically maintained a near 100 percent occupancy. Additional amenities include a Pedestrian Skyway to Newark Penn Station and Gateway Complex, which includes a Hilton Hotel as well as close proximity to the New Jersey Performing Arts Center. The building includes such notable tenants as Everest Technology Group; HDR Engineering; LeBoeuf, Lamb, Greene & MacRae; McManimon & Scotland; Patton Boggs; Sills, Cummis, Epstein & Gross; STV Incorporated; Troutman Sanders; URS Corporation; Winston & Strawn; and Zazzali, Fagella, Nowak, Kleinbaum & Friedman.

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.

About Newmark Knight Frank
Newmark Knight Frank is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 165 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $37.3 billion with annual revenues of over $537 million. With a combined staff of more than 5,300, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.

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Rare Opportunity Exists at the World-Class Commercial Center

NEWARK, N.J. (September 18, 2007) – Matrix Development Group, owners of One Riverfront Center in Newark, have appointed Newmark Knight Frank leasing agent for the top four floors of the Class-A commercial and retail tower widely recognized as the premier business address in Northern New Jersey and Two Riverfront Center, a recently approved 14-story, state-of-the-art, 411,000 square foot office building. The world-class One Riverfront, 20-story, 411,617 square foot facility also known as “The Legal Center” offers for lease over 100,000-square-feet on its top four floors.

Newmark Knight Frank Managing Director Hope G. Brodsky and Executive Managing Director Timothy R. Greiner will head the leasing team for the top four floors at One Riverfront Center and Two Riverfront Center.

“We are very excited to serve as a leasing agent for this desirable space,” said Greiner. “One Riverfront Center offers some of the most sought after Class-A office space in the Northeast and has consistently enjoyed 100 percent occupancy rates. There is presently an exceptionally rare opportunity for up to 100,000-square feet of space for lease at the prestigious facility. The additional development site at Two Riverfront Center is the only site approved in Newark and with immediate train access is one of the most desirable new construction sites throughout New Jersey. With a direct covered walkway to Newark’s Penn Station, this development provides tenants with the ability to access all major train stops in New Jersey as well as Boston, New York and Washington, D.C. via the Northeast Corridor Amtrak and Acela Express train lines.”

“Our assignment at One and Two Riverfront Center is a terrific opportunity to work with Matrix Development Group, one of the state’s most prominent development and investment companies,” said Brodsky. “The current space we are marketing is one of the premier office spaces in New Jersey and will appeal to those who want to be at the center of the business and legal activity in Newark. For those companies committed to Northern New Jersey and Newark, there is no better corporate choice than One Riverfront Center.”

Matrix recently invested $1.5 million in facilities upgrades at One Riverfront Center with enhancements including new state-of-the-art HVAC systems, security, valet parking and a multi-purpose meeting and conference facility.

“We are very excited about working with Newmark Knight Frank and the entire real estate brokerage community to attract a Class-A tenant to this space,” said Matrix Development Group Vice President Hilary Budny. “We are hopeful that this appointment will help serve as a catalyst for bringing tenants from outside Newark to experience the exciting changes taking place in this dynamic city.”

One Riverfront Center has a two-story lobby, parking garage and state-of-the-art security system. This 20-story building is widely recognized as the most desirable office building in North Jersey and has historically maintained a near 100 percent occupancy. Additional amenities include a Pedestrian Skyway to Newark Penn Station and Gateway Complex, which includes a Hilton Hotel as well as close proximity to the New Jersey Performing Arts Center. The building includes such notable tenants as Everest Technology Group; HDR Engineering; LeBoeuf, Lamb, Greene & MacRae; McManimon & Scotland; Patton Boggs; Sills, Cummis, Epstein & Gross; STV Incorporated; Troutman Sanders; URS Corporation; Winston & Strawn; and Zazzali, Fagella, Nowak, Kleinbaum & Friedman.

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.

About Newmark Knight Frank
Newmark Knight Frank is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 165 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $37.3 billion with annual revenues of over $537 million. With a combined staff of more than 5,300, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.