FOR IMMEDIATE RELEASE:

J Street names Shalom Baranes for 1111 North Capitol Project
Monday, January 23, 2006

J Street Development, owner/ developer of 1111 North Capitol has announced that Shalom Baranes Associates has been retained as Project Architect. Currently fully leased to the Smithsonian Institution, 1111 North Capitol is situated on a site of approximately 65,000 square feet fronting North Capitol Street between Pierce Street, NE on the north and L Street, NE to the south. It is adjacent to First Place, at the corner of 1st & L Streets, NE, also owned by J Street, in a partnership. Across 1st Street from this block, is the newly opened New York Avenue Metro Station.

J Street is about Building values -- while creating value for investors, J Street will work to enhance the value of neighborhoods in which it is involved. The Company is committed to seeking partners, investors, employees, and opportunities which share its vision.

Contact: Bruce Baschuk
President
202-639-0339

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