What’s coming!

1. The ITEX Group plans to give the residents of Inez Tims improved living. What’s coming! Inez Tims Residents Meeting on October 10, 2012 with The Itex Group WHAT'S COMING

2. Release: Tuesday, September 4, 2012 The ITEX Group plans to give the residents of Inez Tims improved living. WHAT'S COMING

3. PORT ARTHUR – Today, the Angelina County Citizens Chamber of Commerce and The ITEX Group, LLC announced that the Texas Department of Housing and Community Affairs had selected its application for funding under its 9% competitive tax credit program. The application calls for an extensive rehabilitation of the 70-unit Inez Tims Apartments/Inez Tims Village Apartments on North Chestnut Street in Lufkin, TX. Alex Alexander, President and spokesman for the Angelina County Citizens Chamber, stated, “We have been working for 3 years to find sources of financing to rehabilitate both its Inez Tims development for senior citizens and the non-elderly handicap disabled located on North Chestnut and its Pinewood Park apartment family development located on Kirksey Drive. In January, the legal entities which own these apartments entered into an agreement with a newly formed company Lufkin ITPP I Developers, LLC managed by The ITEX Group of Port Arthur, TX. WHAT'S COMING

4. “ITEX is a real estate development, construction and property management firm with a great track record of success in securing tax credit financing to construct new and make major renovations to affordable housing. We are thrilled that we now have the funding committed to complete half of our Board’s goal. We are working with the ITEX staff to secure additional funding for renovation of Pinewood Park. Currently, Pinewood has been awarded a grant from the TLL Temple Foundation in the amount of $177,392 to help with the renovations to all buildings and the Texas Community Development Block Grant Program 2008 Supplemental Disaster Recovery Fund through DETCOG and the City of Lufkin awarded $720,000 to repair all streets and drainage within the complex.” said Alexander. “This successful effort has largely been due to the wonderful cooperation and support we received from elected leaders and staffers at City Hall, the County Commission, Representative James White and his office, the Economic Development Corporation, DETCOG, the TLL Temple Foundation and the tenant associations,” said Alexander. Chris Akbari, (ITEX Executive Vice President) echoed Mr. Alexander’s thanks to all for the cooperation the company received from Lufkin’s political, business and community leadership and the Board and staff of the Angelina County Citizens Chamber of Commerce. “This is a great community and we look forward to playing a role in its successful future.” WHAT'S COMING

5. “We expect to close the real estate and financial transactions in November and we intend to initiate construction before the end of the year. We will be working to Angelina County Citizens Chamber to complete and approve the architectural drawings for this more than $9 million project and to assist in keeping the tenants informed,” said Akbari. Akbari said, “Although ICON Builders, LLC will serve as general contractor, we anticipate bringing into Lufkin only an experienced project manager. It is our business practice to use as many local sub-contractors as possible. In the next few weeks we will establish a time and place for local contractors to meet with the staff of ICON and discuss their capabilities.” “One of the initial focuses will be a smooth transition for the elderly and disabled citizens living at the Inez Tims complexes. We will be working with the Citizens Chamber and the Inez Tims board and staff to make sure that the residents and their families have input into the transition plan. We will handle the construction in phases and all work should be completed within 12 months. The renovations will be so extensive that residents will have to move from their apartments until the work on a phase is completed. In an effort to keep all tenants on site, the staff at Inez Tims will not fill vacancies until after construction process is complete. The project will pay for all moving costs for tenants as well as associated costs like the transitioning of utilities, etc.,” said Akbari. WHAT'S COMING

6. Mr. Akbari stated that until all work is completed and the properties are stabilized the staff at Inez Tims will become employees of ITEX Property Management, LLC. No one will lose their job and staff members will receive specialized training in managing tax credit properties. The Angelina County Citizens Chamber will have the opportunity to manage these projects after they are stabilized. Inez Tims Apartments and Inez Tims Village were constructed approximately 30 years ago and major renovations are necessary. The apartments will receive new plumbing and electrical systems, new HVAC systems, sheet rock, roofing, flooring, hardware, lighting fixtures and appliances. The entire project will be energy efficient with Entergy Star windows and doors, wall and ceiling insulation, heating/air conditioning systems, appliances and fixtures. Improvements include new window treatments, media/internet connections, covered entries and patios, and washer/dryer connections. The complex will have perimeter fencing with controlled gate access, a fitness center, business center, community room and senior activities center. The ITEX Group based in Port Arthur, TX specializes in real estate and the development, investment, construction, and management of single-family and multi-family apartments, as well as commercial buildings, in the State of Texas. It owns and/or manages twenty-nine developments; home to more than 3,600 Texas families. WHAT'S COMING

7. Complete Unit Renovation Energy Star Dishwasher Upcoming New features to units On-Site Fitness Center Granite Countertops WHAT'S COMING

8. Garbage Disposal Business Center Upcoming New features to units Covered Patios Energy Star Appliances WHAT'S COMING

9. Washer/Dryer Hook-ups Upcoming New features to units And Many Others ! WHAT'S COMING