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MATRIX DEVELOPMENT GROUP ANNOUNCES 1.5 MILLION SF OF
INDUSTRIAL SPEC DEVELOPMENT PROJECTS UNDERWAY

Northeast Business Park Accommodates Increasing Industrial Space Demand

CRANBURY, NJ - Matrix Development Group, one of New Jersey’s most active development companies, announced today that 1.5 million square feet of spec industrial development is currently under construction within the company’s Northeast Business Park. The 400-acre, 10-building campus is strategically located in Washington Township, New Jersey off Exit 7A of the New Jersey Turnpike.

In addition to construction having commenced at 141 West Manor Way, a new 800,311 square-foot facility, Matrix has initiated several other spec developments within the Northeast Business Park to meet the region’s steadily growing demand for new industrial space. Currently, Matrix has the following under construction at Northeast Business Park: 16 Applegate Drive, 480,240-square-foot building and 14 Applegate Drive, a 243,162-square-foot building. Additionally, 23 Applegate Drive, a 179,200-square-foot building is expected to commence construction shortly.

“Matrix Development Group consistently delivers approximately 1-2 million square feet of industrial speculative or build-to-suit development to the central New Jersey market annually,” comments Hilary Budny, Vice President of Matrix Development Group. “Currently, at Exit 7A, we are constructing 1.5 million square feet of spec product and will begin an additional 400,000 square feet at Exit 8A in the first quarter of 2007.”

Northeast Business Park, a 10-building campus with the ability to accommodate five million square feet of light industrial use, has attracted notable tenants such as Seamans Furniture, Amway Corp. and Bohrens/United Van Lines. The park is located with immediate access to NJ Turnpike and I-195 Interchange and also offers close proximity to I-295, US Route 130, Route 1 and I-95.

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.

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CRANBURY, NJ - Matrix Development Group, one of New Jersey’s most active development companies, announced today that 1.5 million square feet of spec industrial development is currently under construction within the company’s Northeast Business Park. The 400-acre, 10-building campus is strategically located in Washington Township, New Jersey off Exit 7A of the New Jersey Turnpike.

In addition to construction having commenced at 141 West Manor Way, a new 800,311 square-foot facility, Matrix has initiated several other spec developments within the Northeast Business Park to meet the region’s steadily growing demand for new industrial space. Currently, Matrix has the following under construction at Northeast Business Park: 16 Applegate Drive, 480,240-square-foot building and 14 Applegate Drive, a 243,162-square-foot building. Additionally, 23 Applegate Drive, a 179,200-square-foot building is expected to commence construction shortly.

“Matrix Development Group consistently delivers approximately 1-2 million square feet of industrial speculative or build-to-suit development to the central New Jersey market annually,” comments Hilary Budny, Vice President of Matrix Development Group. “Currently, at Exit 7A, we are constructing 1.5 million square feet of spec product and will begin an additional 400,000 square feet at Exit 8A in the first quarter of 2007.”

Northeast Business Park, a 10-building campus with the ability to accommodate five million square feet of light industrial use, has attracted notable tenants such as Seamans Furniture, Amway Corp. and Bohrens/United Van Lines. The park is located with immediate access to NJ Turnpike and I-195 Interchange and also offers close proximity to I-295, US Route 130, Route 1 and I-95.

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.