THE LIGHTSTONE GROUP NAMES MICHAEL PHILLIPS
DIRECTOR OF CONSTRUCTION

LAKEWOOD, NJ, SEPTEMBER 26, 2005 – As a result of a portfolio-wide reinvestment initiative and tremendous national expansion, The Lightstone Group, a diversified real estate company headquartered in Lakewood, New Jersey, has named Michael Phillips Director of Construction. In this newly created position, Phillips will oversee all commercial construction for the company as they renovate and expand properties throughout its nationwide portfolio. Phillips will report to Sam Moerman, senior vice president of property management, and work directly with Jeffrey Dash, director of retail leasing, and Frank Duran, director of commercial leasing. Phillips will be based out of The Lightstone Group’s corporate headquarters in Lakewood, New Jersey.

“We are delighted to welcome Michael to our growing team of professionals,” Moerman said. “As we continue to expand throughout the United States and Puerto Rico, as well as renovate our existing properties, Michael’s 25 years of experience in the construction industry will prove to be an invaluable asset.”

Prior to joining The Lightstone Group, Phillips served as Director of Construction for New Plan Excel Realty Trust, one of the nation’s largest real estate companies that focuses on the ownership and management of community and neighborhood shopping centers. In this capacity, Philips supervised construction in shopping centers from Virginia to Massachusetts. Phillip’s professional construction background spans 25 years in ground-up construction, shopping center redevelopment and tenant fit-out.

The Brick, New Jersey resident received a bachelor’s degree from Memphis State University.