Frank Crivello, Managing Member, Eastern Coast Management completes Note and Mortgage Purchase and takes Deed in Lieu Little River, Florida

Cape Canaveral, Florida—November 13, 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, closed on its purchase of a note and mortgage secured by the land at BW Marina, Little River, South Carolina. In a separate transaction, REPB took a deed in lieu of foreclosure from the fee owner of the land and improvements.

Eastern Coast Managing Member Frank Crivello stated: “We are excited to acquire this marina. We believe it has great promise."

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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