Columbia, Md.--Enterprise Community Investment, Inc. (Enterprise) announced today it was awarded $105 million in additional New Markets Tax Credits (NMTC) by the U.S. Treasury Department's Community Development Financial Institutions Fund. This new allocation brings Enterprise's total awards to $415 million of NMTC since the program's inception in 2000.

Enterprise is one of 63 organizations that received awards totaling $4.1 billion through a highly competitive allocation process. Enterprise receives and administers NMTC allocations through ESIC New Markets Partners, LP, which is a qualified Community Development Entity (CDE) established by Enterprise to comply with NMTC requirements. As a result of this award, Enterprise has received the largest aggregate allocation of any entity in the country, and is one of only two organizations that have received an award in all four rounds.

"An additional award of New Markets Tax Credits is great news for us at Enterprise," said Joe Wesolowski, senior vice president, Structured Finance. "This allocation supports our socially motivated work in community revitalization. Our infrastructure for the investment and management of New Markets Tax Credit projects is well-established and we look forward to investing these funds in high impact deals to create opportunities and economic growth in low-income communities across the country."

"The NMTC Program is having a significant impact and will continue to strengthen communities by creating jobs and access to resources and retail services that renew hope and help people improve their lives and their neighborhoods," said Charles Werhane, vice chairman and chief operating officer. We're proud that the Treasury Department has demonstrated this level of confidence in Enterprise by entrusting us with extensive investment authority."

Enterprise has been able to leverage NMTC to make great strides in comprehensive community development. The positive impact of the NMTC Program is being demonstrated through

various Enterprise investments including an industrial development in Monessen, Penn., and the construction of a new elementary school, which is part of the New Columbia Community Campus, in Portland, Ore.

Formerly an abandoned steel mill and brownfield site, the Monessen Riverfront Industrial Development has created 85 new jobs at a manufacturing facility for Maronda Homes, one of the nation's largest privately-owned homebuilders. Maronda Homes has plans for a total of 120 employees at the site by year-end.

NMTC equity is an integral piece of the financing for a new elementary school which will serve 550 school children living in the Portsmouth neighborhood of Portland. In addition to replacing the community's aging elementary school, the new school will feature a library that will be available to the community after school hours.

Enterprise has used its allocations in partnership with some of the nation's leading investors and developers to help fund community revitalization projects in Austin, Texas; Baltimore; Cleveland; Columbus, Ohio; Madison, Wis.; Monessen, Penn.; New York; Omaha, Neb.; Portland, Ore.; San Antonio, St. Louis; and northern Maine. Additional investments include a credit line product for mature community development corporations.

Enacted into law by the Community Renewal Tax Relief Act of 2000, the NMTC Program will stimulate $16 billion of investments in economically distressed communities. The program, administered by the Treasury Department's Community Development Financial Institutions Fund, provides tax incentives to private and corporate investors who make investments in qualified CDEs.

Enterprise Community Investment, Inc. is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits; short- and long-term debt, and development services to capitalize projects that make a catalytic difference in communities. For over two decades, Enterprise has privately raised $6 billion in capital to finance affordable housing, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of nearly $1 billion a year. Visit www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

Enterprise Community Investment, Inc.

Enterprise Community Investment, Inc.

Enterprise Community Investment, Inc. is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits; short- and long-term debt, and development services to capitalize projects that make a catalytic difference in communities. Over the last 25 years, Enterprise has privately raised over $8 billion in capital to finance affordable housing, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of nearly $1 billion a year. Visit www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

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