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January 10, 2005

New High-Tech Development for North Branford, CT

HAMDEN, CT - Michael Belfonti, President and CEO of Belfonti Associates, LLC, announced today that the Town of North Branford, Connecticut, has approved plans for the development of a new high-tech research and development facility to be named Enterprise Business Park.

Enterprise Business Park Partners, LLC, in conjunction with Belfonti Associates, LLC and A. Secondino & Son of Branford, will begin construction of the 192,000-square foot development in March of 2005. Located on Route 22 in North Branford, the development will consist of three separate buildings, all configured for the biotechnology, technology and medical industries.

Belfonti and Secondino originally purchased the 40-acre site in 1993. After several years of marketing the property, Belfonti and Secondino were approached by entrepreneurs who wanted to use just over 6 acres to build a two-surface ice skating rink. Belfonti, Secondino, and Richard Tolentino, the President of Belfonti Properties reviewed the concept.

"After analyzing their business plan, our group decided to move forward with the project," said Al Secondino. "Today, Northford Ice Pavilion is home to Quinnipiac University's Division I hockey teams, six high school teams, two youth hockey organizations, one boys' junior hockey team and one girls' youth hockey organization," he added.

The new Enterprise Business Park will occupy the remaining 33+ acres. "The market for this type of development has finally come full circle," said Belfonti. "We have received numerous inquiries regarding space requirements, and although we are building the project on speculation, we are confident that the first phase will be leased very quickly," he said.

Belfonti Companies, LLC Real Estate Development and Investment, with a central office located in Hamden, Connecticut, actively and aggressively pursues opportunities throughout the United States and internationally.