COLUMBIA, MD.- July 18, 2007 -Enterprise Community Investment, Inc. (Enterprise) announced today that Gary B. Alex and Ernest 'Joe' Solomon, experts in the origination, underwriting and closing of FHA insured multifamily and healthcare mortgage loans, have joined the company. Enterprise is a national leader in affordable housing finance and community development, investing nearly $1 billion a year in communities.

"The FHA product is an integral component of the financing products and services we offer our nonprofit and for-profit partners," said Lamar Seats, senior vice president of Enterprise Community Investment Multifamily Mortgage Finance. "I am very pleased that Gary and Joe, two well-respected, senior level professionals, have joined Enterprise to bring their wealth of FHA knowledge and expertise to our customers," said Seats.

Gary Alex brings 35 years of real estate finance loan production and operational management experience, specializing in the government insured/guaranteed programs including HUD/FHA, Fannie Mae, Freddie Mac and USDA Rural Development to his role as National Director, FHA Lending, for Enterprise. His prior loan production experience spans the continuum of subsidized, affordable and market rate rental housing and healthcare facilities utilizing tax exempt and taxable construction and or permanent loan structures. Transactions often involved multi-layering of various forms of grants, soft seconds and other rental subsidies.

As chief underwriter and quality control manager, FHA Lending, Joe Solomon is responsible for managing the processing and underwriting of mortgage applications for multifamily and/or health care facilities with FHA mortgage insurance. Solomon entered the multifamily housing industry after a fifteen-year career in aerospace with Boeing. Solomon’s multifamily housing expertise includes direct development and management responsibilities for over 6,000 units in multiple states. Solomon specializes in underwriting loans for multifamily projects and health care facilities, using conventional, FHA insured, tax exempt bond, and Fannie Mae programs.

Through the FHA program, Enterprise will offer financing for new construction, acquisition, rehabilitation and substantial renovation of multifamily housing and healthcare facilities. The program complements and enhances the company's successful and long-standing relationship with Fannie Mae for affordable multifamily housing. The company’s 30-year mortgage product, offered through the Fannie Mae DUS(R) program, has resulted in a lending portfolio of over $435 million and 15,000 affordable apartments and homes. Enterprise also offers a 40-year mortgage as a conventional taxable loan, financed through an institutional investor.

Enterprise's FHA program will be fully operational in the fourth quarter of 2007. Mr. Alex and Mr. Solomon will operate from new offices recently opened at 6340 Sugarloaf Parkway in Duluth GA.

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 more than $8 billion to finance more than 215,000 affordable rental and for-sale homes, 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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