Southeast Capital Partners, Inc.

SOUTHEAST CAPITAL PARTNERS, INC. ANNOUNCES NORTHSIDE VILLAGE

Developer Takes Unprecedented First Step to Revitalize Area With
Multi-Phase, Mixed-Use Development on Northside Drive

ATLANTA (December 5, 2003) Southeast Capital Partners, Inc. broke ground today on Northside Village, a multi-phase, mixed-use development located at 370-372 Northside Drive. Situated in the historic English Avenue neighborhood, Northside Village represents the first step in the effort to reinvent and revitalize Northside Drive, an area that has been highlighted as needing significant investment and improvement.

Northside Village is a joint venture between Southeast Capital Partners, Inc., Bethel Northside Village and Bethursday Development, Inc. HUD, the Atlanta Housing Authority, the City of Atlanta and the Atlanta Development Authority are integral in the development of this project as well. The goal of this powerful team is for Northside Village to represent a world-class development that is sensitive to the needs and desires of the neighborhood. At completion, Northside Village will feature affordable and market rate rental homes, affordable and market rate condominium homes, retail space, office space, a full service hotel, community facilities and housing for senior citizens.

The 16-acre property is adjacent to the Georgia World Congress Center and less than two miles from the Atlanta central business district. Phase one, set on five acres, will feature 261 apartment homes with a variety of amenities, including covered parking, a swimming pool, fitness center, club room and playground. In addition, phase one will boast 8,500 square-feet of retail space to serve the local community. The project is walking distance to the Vine City MARTA train station.

Southeast Capital Partners is an Atlanta-based real estate investment company specializing in the acquisition, ownership and development of rental and for sale multi-family housing. For further information, visit www.secpartners.com.

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