Prosperous and Rewarding 2008

"The key is not the will to win...everybody has that. It is the will to prepare to win that is important." - Bobby Knight, Texas Tech men's basketball coach

We have spent the past few years creating a great company. We are now in a position to grow quickly through acquisitions while also creating value in the existing portfolio. The market is coming back into alignment with profitability.

In ‘08 we will no longer be forced to look at 5 cap deals and walk away from the deal. The competition, primarily novice investors and condo converters with be sidelined for the foreseeable future. The major players are focused on larger deals now so we have a huge opportunity to advance towards our $1 Billion goal. As long as we stick with our model we will get there.As for our management side the last few years have been a time of restructure and creation. We spent a substantial amount of money and time creating a brand that our residents can feel connected to.

In 2008 we will continue to reinforce that connection. Our management teams are in place and will continue the great work that they have been doing for us in the past while also evolving into the service based company we are aspiring to be.I look forward to a prosperous and rewarding 2008 for the entire NWJ/Signature community.

Nickolas W. Jekogian