Columbia, Md.- Enterprise Community Investment, Inc. (Enterprise) announced today that its board of directors has approved a restructuring of the company's lines of business, accompanied by a significant realignment of its senior management team. Enterprise is a national leader in the affordable housing and community development industry, with investments across its business lines totaling in excess of $1 billion per year. Working with various investor and developer partners, Enterprise finances, develops, and manages a portfolio of high-quality affordable housing and related community enrichment facilities in underserved communities across the country.

In November 2005, Enterprise formally announced its decision to implement an integrated business model for all of its community development products and services. To support Enterprise's goal of providing unified, efficient and one-stop customer solutions to its investors, developers, and other partners, the board has approved the restructuring described below.

"Delivering our comprehensive portfolio of community development products to both our developer customers and investors through a single, relationship-based production organization will position Enterprise to enhance its tradition of excellence in serving our clients," said Jeff Donahue, president and chief executive officer of Enterprise Community Investment, Inc.

The following outlines the major changes along with the senior managers responsible for carrying out the new plans.

• Production: Charlie Werhane, formerly executive vice president and chief operations officer, was promoted to vice chairman and chief operations officer. In his new role, Werhane is the overall head of production for Enterprise's low-income housing tax credit syndication, multifamily mortgage and structured finance product lines. Werhane joined Enterprise in 2000 to head up the New Markets Tax Credits business. Enterprise is now the second largest allocatee in the nation. Werhane, formerly president and CEO of USF&G Realty Advisors, brings over 25 years of real estate finance, production and management experience to his expanded role with the company.

• Finance, Credit, Asset Management: Holly Stagmer was promoted to executive vice president for finance, credit and asset management. Stagmer joined Enterprise as chief financial officer in 2000, after many years at The Rouse Company, and was promoted to senior vice president of finance and strategic planning in 2002. In her new role, Stagmer will oversee the asset management, finance and credit functions for the company.

• Strategic Planning, Human Resources and Marketing: Helen Whitehead was promoted to executive vice president and chief administrative officer. Her additional responsibilities include the oversight of strategic planning activities that will result in a unified, efficient and one-stop service to customers. Prior to joining Enterprise seven years ago, Whitehead was senior vice president of corporate operations at Integrated Health Services, Inc.

• Syndication: Paul Cummings was promoted to senior vice president of syndication. In this role, Cummings will be responsible for national deal production and staff expansion in key markets. He will have increased involvement in new product development and production related budget matters. Cummings joined Enterprise in 1996 as an underwriter and from 2003 to 2005, served as vice president of west coast operations.

• Credit: Scott Hoekman was promoted to senior vice president and chief credit officer for all of Enterprise Community Investment. In this role, Hoekman will assure that real estate credit standards and risk management are uniformly implemented across product lines, including new lines of business. He oversees the company's transaction underwriting and approval process and leads the credit and technical services teams.

• Structured Finance: As senior vice president, structured finance, Joe Wesolowski will manage Enterprise's New Markets Tax Credits and other debt and non-LIHTC equity products. Wesolowski is responsible for fund management, investor relations, investor reporting, loan servicing, and Community Development Entity (CDE) compliance.

• Legal: Enterprise has also recently hired its first internal general counsel. Bruce Rothschild will oversee and coordinate all legal activities for the investment company. Rothschild comes to Enterprise with a long and varied career, including 19 years with The Rouse Company, most recently as general counsel.

Enterprise's move to expand its leadership team and implement an integrated business model comes at a time when the company celebrated another highly successful and productive year.

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 $7 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 $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.

More from Enterprise Community Investment, Inc.