MILE HIGH CAPITAL GROUP SOLD

Released on = July 21, 2005, 4:44 pm

Press Release Author = Bryan Hill

Industry = Real Estate

Press Release Summary = Mile High Capital Group, Ltd. (MHCG), a Denver, Colorado-based real estate developer, has been sold by former owner Rick Dryer

Press Release Body = FOR IMMEDIATE RELEASE:

DENVER—July 11, 2005—Mile High Capital Group, Ltd. (MHCG), a Denver, Colorado-based real estate developer, has been sold by former owner Rick Dryer to a group headed by Andrew McFaul, its COO, and Jeffrey Dietz, its executive vice president, according
to an announcement by general counsel Jeff Keiffer, JD CPA, authorized by MHCG’s board of directors. The sale price was reported as $100 million. The sale took
place July 1, 2005.

Mr. Dryer has resigned his positions as CEO and president of MHCG, as well as resigning from the board of directors as he is no longer a stockholder, the announcement said. Jeff Dietz and Andy McFaul were elected to a new term on the board of directors. McFaul replaces Dryer as Chairman of the Board and CEO. Dietz replaces him as president of the company. McFaul will continue to serve as COO until a replacement is found.

MHCG has grown rapidly in sales volume over the last several years. Sales for 2004 were reported at over $120 million, with over $175 million of sales so far
this year. “Because of repeat customers and the last half of the year’s traditionally disproportionate greater sales, we anticipate $600 million of sales this year,” according to Jeff Dietz, MHCG’s new president.

“As our reputation, size, and operations grew from greater exposure in the marketplace, repeat business and word of mouth, I knew that the company had
outgrown my skill set,” confesses Dryer. “Andy McFaul was a godsend, and working in concert with the incredible Jeff Dietz, I knew the company would be
in good hands.”

Dryer turned over day-to-day operations months ago to Andy McFaul and Jeff Dietz as a practical matter, he admits, as his responsibilities and affection for his
“Right Place” seminars grew. “It was clearly the right move,” Dryer says. “The company has grown three or fourfold since Andy McFaul became COO and Jeff Dietz
executive vice president. With the sale, I fully expect Mile High Capital Group to hit a billion in revenues in the next year or two. I wish them every success.”

About Mile High Capital Group, Ltd.

Founded 12 years ago as a builder and developer of single-family attached homes, MHCG develops subdivisions around the country in areas it has identified as possible high-growth areas with a rental need, and sells its products usually to non-owner-occupied purchasers. Its products are a variety of single-family attached or small detached homes, usually with oversized garages and a specific
range of renter-attracting amenities. MHCG’s management has over 100 years combined experience building and developing homes, and markets a complete program to include: project infrastructure, single-family attached homes, landscaping, and all property upgrades.

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Web Site = http://milehighcapitalgroup.blogspot.com

Contact Details = Jeff Keiffer
Mile High Capital Group
303-468-5814
or
Bryan Hill
Performance Marketing
303-468-5480
Cell: 303-519-3614
BHill@MileHighCapital.com