FORSYTHE APPRAISALS EXPANDS PRESENCE IN SOUTHWEST

San Antonio, Texas—August 2006

San Antonio, 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 San Antonio, Texas. This opening represents Forsythe’s third branch office to be located in Texas and its 30th branch office opening nationwide.

The San Antonio office will be managed by, John Barker, a Certified General Appraiser with a 15-year history in the appraisal and real estate industry.

“Despite a downward trend in many areas throughout the country, the number of home listings in the San Antonio area has decreased by approximately 7%, while the actual number of homes sold over the past year has increased by 7%. Obviously, that’s a strong indication of a robust market,” said John Barker, branch manager of the San Antonio office. “Interestingly, Fortune Magazine recently rated San Antonio as the best real estate market in the country,” he added. “Having established offices in Dallas and Houston several years ago, we’re very excited by the expanded coverage that San Antonio provides. We now have a predominant presence in three of the major markets in Texas.”

"Establishing a presence in the San Antonio market was an obvious next step for us,” said John Forsythe, President of Forsythe Appraisals. "The local economy is steadily improving with significant job growth, particularly in the construction and manufacturing sectors. Additionally, an increasing number of our clients are looking for coverage in this market. So, we're fortunate that we have an opportunity to better serve our clients while growing our business at the same time.”

Headquartered in St. Paul, Minnesota, Forsythe Appraisals was founded in 1940 by the grandfather of the Company’s current CEO and President. With the addition of the San Antonio office, 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:
John Barker
Forsythe Appraisals LLC
10715 Gulfdale, Suite 260
San Antonio, TX 78216
Phone: (210) 366-1238
Fax: (210) 366-0490
E Mail: johnb@sanantonio.forsytheappraisals.com

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