FORSYTHE APPRAISALS SHINES IN LONE STAR STATE

Austin, Texas—October 2006

Austin, Texas--Forsythe Appraisals, LLC, the largest independent provider of residential real estate appraisals in the country, today announced the opening of their newest branch office in Austin, Texas, This opening represents Forsythe’s fourth branch office to be located in Texas and its 32nd branch office opening nationwide.

"We’re very pleased about expanding our presence in Texas," said John Forsythe, President of Forsythe Appraisals. "Our Houston and Dallas offices have grown significantly since we opened the doors in 2005. Given the strength of the Austin market, we expect this branch to perform equally as well—if not better than the other Texas branches."

The Austin office marks Forsythe Appraisals’ sixth branch office opening this year. "Needless to say, we’ve been very busy," noted Forsythe. "Despite the decline in mortgage activity in many of markets, our business remains strong as does our commitment to our national growth strategy which includes opening eight new branch offices next year."

The Austin branch will be managed by Certified Residential and FHA-approved Appraiser, April Decker. Ms. Decker joined Forsythe Appraisals as an appraiser in 2001.

"The Austin market is booming right now. The local economy is incredibly strong and the job growth rate continues to climb. In fact, Austin has the largest job growth rate of any of the five largest metro areas in Texas and the third highest job growth rate in the country," explained Decker. She added, "Additionally, single family home starts increased by 21% this past year and the median house value is well above state average. If you factor in the relatively low inventory, you have a very strong seller’s market."

Headquartered in St. Paul, Minnesota, Forsythe Appraisals was founded in 1940 by the grandfather of the Company’s current CEO and President. Forsythe Appraisals currently operates 37 branch offices nationwide, serving 20 states.

Forsythe Appraisals, LLC is owned and managed by John and Tim Forsythe, together with John and Jeff Turner, founders of Hillcrest Capital Partners (HCP). Located in Minneapolis, HCP was established in 2002 as a private investment firm to make control investments in high quality businesses based in the Upper Midwest.

Branch Contact Information:
April Decker Branch Manager
Forsythe Appraisals LLC
1016 La Posada Drive, Suite #297
Austin, TX 78752
Phone: (512) 590-6001
Fax: (512) 590-6005
E Mail: austin@austin.forsytheappraisals.com

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