February 25, 2008

H. Mark Daley, III
President
The Generation Companies
919.313.7238

(RESEARCH TRIANGLE PARK, NC/NEW YORK, NY) Andrew G. Bene, CRE, FRICS, Executive Vice-President of MB Real Estate LLC in Manhattan, recently joined the Board of Advisors of The Generation Companies, LLC (Generation), a Research Triangle Park, North Carolina owner, developer, asset manager and operator of extended-stay hotels in North Carolina, Tennessee, Virginia and Florida.

Bene, whose investment banking career spans 38 years, handles real estate assignments throughout the world. MB Real Estate is a full-service real estate company with offices in New York and Chicago. Over the last five years, the organization has closed more than $7 billion in equity, financing, advisory, and mezzanine services. Prior to joining MB Real Estate in 2007, Bene was Managing Director and Group Leader at Sandler O'Neill and Partners. He also served as Managing Director of Capital Markets at Marshall and Stevens, and Managing Director/Partner of the Global Capital Markets Practice for PricewaterhouseCoopers Securities LLC, where he successfully closed over $3 billion in debt, equity, bridge, and mezzanine financing transactions.

He holds an undergraduate degree from the University of Pittsburgh and graduate degrees from the Graduate School of Banking of Brown University and the Graduate Real Estate Institute of New York University, and is a visiting professor at Yale University, lecturing on real estate finance. Bene is a licensed real estate broker in the State of New York and holds both the Series 7 and Series 63 Securities licenses.

"Andy has been a trusted friend and advisor for years so we could not be more pleased to have him join our board. His integrity, experience, and vast global contacts will help propel Generation's growth," said Generation President & CEO H. Mark Daley, III.

"I am pleased and honored to be part of the continuation of the Generation legacy," Bene stated. "I look forward to the growth of the business ideals originally introduced by the founding principals of the firm."

The Generation Companies is a Research Triangle Park, North Carolina-based real estate developer, asset manager and operator of extended-stay hotels in North Carolina, Virginia, Florida and Tennessee. Generation has more than 2400 hotel rooms and $200 million in real estate assets under management, and employs over 300 associates at 23 properties, with more under construction. Generation is actively seeking new acquisition and development opportunities in the extended stay segment. For more about Generation, visit www.generationcompanies.com.