Trump Entertainment Rating Cut To 'CCC' From 'B-'; Outlook Negative

NEW YORK, Nov. 11, 2008--Standard & Poor's Ratings Services today lowered its corporate credit and issue-level ratings on Atlantic City-based Trump Entertainment Resorts Holdings L.P. (TER). The corporate credit rating was lowered to 'CCC' from 'B-', and the rating outlook is negative.

"The ratings downgrade reflects our expectation that TER's ability to service its current capital structure over the intermediate term will be challenged despite the recent opening of the Chairman Tower at the Trump Taj Mahal (above centered photo) and the planned sale of the Trump Marina," said Standard & Poor's credit analyst Ben Bubeck. (middle left photo)

"While a portion of the proceeds from the planned sale of the Trump Marina, (bottom left photo) which is scheduled to close by May 28, 2009 (subject to up to a potential 60-day extension), could potentially remain on the balance sheet to support an expected shortfall in cash generation relative to debt service obligations, we believe that, absent a substantial rebound in the Atlantic City market, a restructuring of TER's debt obligations is likely."

The 'CCC' rating reflects TER's weak credit metrics, limited liquidity, and small portfolio of casino assets, which rely exclusively on cash generated in the highly competitive Atlantic City market.


(Developer Donald Trump, middle right photo)


During the 10 months ended Oct. 31, 2008, total casino win in the Atlantic City market and at TER's three properties was down 6.6% and 6.7%, respectively, versus the prior comparable period.

We expect that competitive pressures from neighboring states, compounded by challenging economic conditions and a substantial pullback in consumer discretionary spending, will continue to hurt the performance of the Atlantic City market in general, and will drive TER's credit metrics even weaker over the next several quarters.


As of Sept. 30, 2008, we estimate that, including the Trump Marina, total debt to EBITDA was more than 14x and EBITDA coverage of interest was approximately 0.9x.




Media Contact:
David Wargin, New York (1) 212.438.1579, david_wargin@standardandpoors.com

Analyst Contacts:
Ben Bubeck, CFA, New York (1) 212-438-2176
Melissa Long, New York (1) 212-438-3886

Shaw Mechanical nixes annual party to focus on corporate giving

ORLANDO, FL, Nov. 11, 2008 — Times what they are, Shaw Mechanical Services LLC has decided to forego its annual giving and thanks party for clients and staff this year to renew its sponsorship of the Destiny Foundation of Central Florida.

For 2009, Shaw Mechanical has committed to continue its three-point corporate giving program announced at last year’s bash that included a monetary donation, 80-hours of employee paid-volunteer-time and in-kind maintenance service for the Foundation’s 72-tons of HVAC equipment.

In 2008, Shaw Mechanical presented Destiny Foundation with a check for $5,000, provided $7,000 in servicing the Foundation’s 72-tons of HVAC equipment, and paid staff to volunteer at the Foundation’s warehouse and grocery store located on Michigan Avenue near downtown Orlando, Fla.

“During an economic downturn of this magnitude, it is much more important that we renew our support to the Destiny Foundation to help those in our own community that need assistance,” said Shaw Mechanical Services’ President, David L. Shaw. (middle right photo)

About Destiny Foundation
The Destiny Foundation, founded in 2001 by Pastor Scott George, (top left photo) was created to allow the working poor to invest sweat equity in the Foundation’s 35,000-square-foot grocery store in exchange for the ability to reduce their monthly food budget.

Please visit http://www.battlehunger.org/ for more information.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, www.pr-works.com

Regency Centers Reports Increased Net Income of $54.5M

(Regency Centers Corp. executive team, seated, Bruce Johnson and Brian Smith. Standing, from left, Mark Harrigan, Jim Thompson, Martin "Hap" Stein Jr., Mary Lou Fiala, James Buis and John Delatour.)

JACKSONVILLE, FL.--(BUSINESS WIRE)--Regency Centers Corporation (NYSE:REG) has announced financial and operating results for the quarter and nine months ended September 30, 2008.

Funds From Operations (FFO) for the third quarter was $85.0 million, or $1.21 per diluted share, compared to $67.8 million and $0.97 per diluted share for the same period in 2007.

For the nine months ended September 30, 2008, FFO was $214.4 million or $3.05 per diluted share, compared to $212.7 million or $3.04 per diluted share for the same period last year.

Regency reports FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (NAREIT) as a supplemental earnings measure. The Company considers this a meaningful performance measurement in the Real Estate Investment Trust industry.

Net income for common stockholders for the quarter was $54.5 million, or $0.78 per diluted share, compared to $37.0 million and $0.53 per diluted share for the same period in 2007.

Net income for the nine months ended September 30, 2008, was $113.1 million or $1.61 per diluted share, compared to $133.4 million and $1.92 per diluted share for the third quarter of 2007.

(Martin E. "Hap" Stein Jr., chairman, middle right photo)

Portfolio Results

For the three months ended September 30, 2008, Regency's results for wholly-owned properties plus its pro-rata share of co-investment partnerships were as follows:

-- Same store net operating income (NOI) growth: 2.3% (2.0%
including 100% of co-investment partnerships)

-- Rental rate growth on a cash basis: 13.8% (13.3% including
100% of co-investment partnerships)

-- Leasing transactions: 441 new and renewal lease transactions
for a total of 1.5 million square feet

For the nine months ended September 30, 2008, Regency's results for wholly-owned properties and its pro-rata share of co-investment partnerships were as follows:

-- Percent leased, operating properties only: 94.3% on a pro-rata
basis (94.8% including 100% of co-investment partnerships)

-- Same store net operating income (NOI) growth: 2.5% (2.6%
including 100% of co-investment partnerships)

-- Same store rental rate growth on a cash basis: 11.6% (11.6%
including 100% of co-investment partnerships)

-- Leasing transactions: 1,331 new and renewal lease transactions
for a total of 4.5 million square feet

For a complete copy of the company's news release showing full performance details, please contact Lisa Palmer, IRInfo@regencycenters.com, 904-598-7636, http://www.regencycenters.com/

D & A Building Services hired to put a shine on Reliable Plaza

LONGWOOD, FL — D & A Building Services Inc. has completed the construction clean-up contract to get Reliable Plaza (top left photo) ready for its debut today in downtown Orlando, Fla.

Under contract with Skanska/JCB, the construction management joint venture for the new headquarters of Orlando Utilities Commission, D & A provided construction clean-up services, carpet cleaning, interior window cleaning and exterior high-rise window cleaning for the 10-story, 150,000-square-foot building.

Approximately, fifteen D & A cleaning technicians were involved in the execution of this contract.

D & A Building Services Inc. provides facility maintenance services to property managers, building owners, and local, state and Federal governments.

Founded in 1985, D & A performs full-service janitorial and specialized interior and exterior facility maintenance, landscape maintenance, pest control, waterproofing, construction clean-up and communications services.

Al Sarabasa, Jr. (middleright photo) is president, CEO and founder of the veteran-owned company, an Hispanic-Owned Business Enterprise. The Company has offices in Longwood, Fla., Jacksonville, Fla., Tampa, Fla., Kansas City, Mo., Madison, Wis., Plano, Texas, and Detroit, Mich.

For additional information, please visit http://www.dabuildingservices.com/.

Contact: Elaine Ingra, PR WORKS!, PH: 407 384-1344,
elainei@pr-works.com, http://www.pr-works.com/

Noble Investment Group Starts $9M Renovation and Addition at Kansas City Marriott Country Club Plaza

ATLANTA, Ga. – November 11, 2008 –Privately held Noble Investment Group (“Noble”), a leading sponsor of private equity real estate funds and an integrated lodging and hospitality operating and development organization, today announced the launch of the $9 million comprehensive renovation of the Kansas City Marriott Country Club Plaza (top left photo) in Missouri.

Noble acquired the hotel in March of 2008 and has designed an overarching renewal of all guestrooms, meeting and event space, food and beverage outlets, as well as all public areas.

“The completion of these planned physical enhancements to the entire hotel will enable our dedicated team of hospitality professionals at the Kansas City Marriott Country Club Plaza the ability to provide their guests with a memorable luxury experience,” said Bob Morse, (middle right photo) Noble’s managing principal and chief operating officer.

The $9 million renovation will include the creation of the Marriott Great Room, an ideal spot for guests to engage in small work groups, gather in a casual dining experience or socialize and unwind in an inviting, comfortable, living-room atmosphere.
The Great Room concept was designed to provide intimate social zones, virtually enabling guests to tailor the use of the space to suite their own needs, much as they would do in their own homes.

CONTACTS:

Chris Daly, Vice President, Daly Gray Public Relations, 703 435 6293, chris@dalygray.com
Bonnie Herring, Noble Investment Group, 404-262-9660, bonnie.herring@nobleinvestment.com

GVA Advantis Retained by The Woodmont Co. to Exclusively Lease Plantation Plaza in Destin, FL

DESTIN, FL– GVA Advantis has been retained by The Woodmont Company to exclusively lease Plantation Plaza, (top right photo) a new 121,245-square foot class A community retail center in Destin, Okaloosa County, Florida.

The property will be exclusively represented by Managing Director Lucas Hewett (middle left photo) and Associate Director Jason Carnes.(bottom right photo)

“Plantation Plaza is Destin’s newest destination retail center,” says Hewett. “We will leverage off of the activity generated by the center’s anchors, Fresh Market and Marshalls, to complete the lease-up of this exciting assignment.”

Plantation Plaza is located within the prestigious Kelly Plantation resort community along Highway 98 / Emerald Coast Parkway in the heart of Destin. It is situated on Commons Drive, adjacent to and east of The Home Depot.

The Woodmont Company, a Fort Worth, Texas-based commercial real estate investment and brokerage firm, has been in business for 28 years, growing to a nationwide network of more than 70 professionals and dozens of partner companies.

Woodmont has developed, managed and brokered tens of millions of square feet, always focusing on a commitment to personal service and the client's perspective. With offices in Fort Worth and Dallas,

The Woodmont Company's services include site selection, development, brokerage, investment, and property management. For more information, visit www.woodmont.com.
CONTACT:

Lisa Pelec Hyde, Regional Director of Marketing, Advantis Real Estate Services Company,
3000 Bayport Drive, Suite 100, Tampa, Florida 33607. Tel 813.342.4752. Fax 813.342.4004.
E-mail Lhyde@gvaadvantis.com
http://www.gvaadvantis.com/