FORSYTHE APPRAISALS EXPANDS TO SILICON VALLEY

San Jose, California—September 26, 2006

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 Jose, California. This opening represents Forsythe’s second branch office to be located in California and its 31st branch office opening nationwide.

"We’re delighted about the opportunity to expand our coverage in California and establish a presence in the San Jose area," said Tim Forsythe, Chief Executive Officer of Forsythe Appraisals. "Our growth strategy has been consistently aggressive in recent years and fortunately it has proven to be successful for us," he said. The San Jose office marks the fifth branch office opening this year with the sixth location scheduled to open in Austin, Texas later this month. "The opening of the San Jose branch helps chart the course for achieving our goal of having 40 branch offices by the end of 2007," Tim Forsythe added.

The San Jose office will be managed by industry veteran, Paul Quistgard. Quistgard, a Certified Residential Appraiser, joins Forsythe from Transunion Settlement services where he held the position of senior staff appraiser.

"As the largest city in Northern California with a diverse employment base, excellent schools and relatively low residential property taxes, San Jose is among the most desirable places to live in the country," said Paul Quistgard, branch manager for Forsythe Appraisals. "Like many areas of the country, housing starts have declined slightly in some areas and the average number of days on market has increased from last year. However, the Silicon Valley region has always enjoyed steady, if not strong, demand for all property types. And the population base continues to expand. There also continues to be a steady increase of new business start-ups as well as ongoing expansion for more established firms," he said.

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 Nashville 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:
Paul Quistgard, Branch Manager
Forsythe Appraisals LLC
744 San Antonio Rd., Suite #4
Palo Alto, CA 94303
Phone: (650) 319-0035
Fax: (650) 319-0039
E Mail: sanjose@sanjose.forsytheappraisals.com

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