Frank Crivello, Managing Member, Eastern Coast Management enters into an agreement to Purchase Note and Mortgage in Little River, South Carolina

Cape Canaveral, Florida—September 25, 2003— Eastern Coast Management, LLC (“Eastern Coast”) announced today that RE Palm Beach Partners, LLC, a limited asset entity it created and owns equally with an investor, reached an agreement to acquire a note and mortgage secured by BW Marina, located in Little River, South Carolina. BW Marina is a traditional marina with boat slips, fuel and other services, and a large dock occupied by SunCruz Casinos, LLC.

Eastern Coast Managing Member Frank Crivello stated: “We agreed to purchase the note and mortgage because we believe they are fully secured and we are confident we can negotiate with the fee owner a deed in lieu of foreclosure agreement. We are developing our plans for our redevelopment of this marina.”

About Eastern Coast Management, LLC:

Eastern Coast is focused on real estate and marine investments in the southeastern United States. For approximately twenty five years, as principals, Eastern Coast's team has been involved in all facets of real estate development, rehabilitation, and investments. In addition, Eastern Coast's team has offered professional management and advisory solutions to public and private companies, trusts, and individual investors. For approximately six years, as advisors or principals, Eastern Coast's team has been involved in marine investments of various types.

Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Eastern Coast could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to assumptions relating to the marine market and that there will be no unanticipated material adverse change in Eastern Coast's operations or business.

Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com

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