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THE FALLS AT FLINT HILL OPENS TO GREAT SUCCESS

PRE-LEASING AHEAD OF PROJECTION

OPEN HOUSE SCHEDULED DECEMBER 5 - 7, 2008

OAKTON, Virginia, December 2, 2008 – Lerner Enterprises of Rockville, Maryland, Washington, D.C.’s largest private real estate developer announced today that the initial phase of The Falls at Flint Hill opened on Friday, November 28, 2008.  The luxury rental community consists of 246 units and is located at 10520 Rosehaven Street in Oakton, Virginia.  Completion of Phase 1 marks delivery of the clubhouse with its many amenities, the leasing center and 60 residential units.  The remaining phases representing 186 units are scheduled for completion in March 2009.  The Falls at Flint Hill is located at Route 123 (Chain Bridge Road) and Interstate 66 and is near the Vienna Metro station.

“Our pre-leasing activity continues to outpace projections and we are pleased to open Phase 1 at over 50% leased.  Our largest, most expensive units are the most popular as families and empty nesters finally have a rental community that does not compromise the luxurious appointments and designs they are accustomed to in private up-scale homes,” said Suzanne M. Holt, Managing Director of Residential Management for Lerner.  “The property’s location near all of Northern Virginia’s employment and entertainment centers, its proximity to the Vienna Metro and the community’s distinctive floor plans and upgraded appointments have all contributed to a project that is unique to this market and that is being well received by the public” she added.

The Falls at Flint Hill will be hosting three open houses on Friday, December 5, Saturday, December 6 and Sunday, December 7 in its’ newly opened clubhouse.    Guided property tours will be conducted throughout the Open House.

The Falls at Flint Hill is set amid lush, manicured grounds and is designed to provide a garden resort sanctuary, with walking paths winding through peaceful tree groves.  Inside, the spacious residences feature the finest of finishes and appointments including granite, wood finish floors, luxury baths and showcase kitchens.  The Falls at Flint Hill consist of three residential buildings that include secured attached parking with elevator access to each floor.  The apartment sizes range from 761 square feet for a one-bedroom apartment to expansive 1,700 square foot three-bedroom apartments.

The Falls at Flint Hill creates a unique community environment that features an array of resort-style amenities that include a community clubhouse with a veranda overlooking the gardens and pool, a fitness and yoga studio, an outdoor pool and spa, a game room, private theater screening room and an expansive sun deck.  Many social activities are planned and include Pilates and dance classes, movie and football nights, wine and cheese tasting, networking events and much more.

The Falls at Flint Hill is the newest apartment community in Oakton.  The community is located minutes from the prestigious Flint Hill School, Tysons Corner Center, Tysons Galleria, Fair Oaks Mall,  Oak Marr Golf Course and major employers including AT&T, Lockheed Martin, General Dynamics, Verizon, Airbus, Booz | Allen | Hamilton and Capital One, among many others.

For additional information please visit:  TheFallsAtFlintHill.com

ABOUT LERNER ENTERPRISES:

Lerner Enterprises of Rockville, Maryland, founded by Theodore N. Lerner in 1952, is Washington, D.C.'s largest private real estate developer and is involved in all phases of office, retail and residential real estate including planning, development, construction, leasing, asset management and property management.  Lerner has developed, and currently manages more than 15 million square feet of office buildings, retail centers and residential communities.  Included in the Lerner residential community portfolio is the award-winning Lillian Court at Tysons II condominiums in McLean, Virginia; Parc Dulles and Remington at Dulles Town Center in Dulles, Virginia; Tower 2000 in Alexandria, Virginia; and Oxford Square at White Flint in Rockville, Maryland, among many others.  Lerner has developed over 7,000 apartment units in the Washington, D.C. metropolitan area; Richmond, Mechanicsville and Newport News, Virginia.  Lerner’s newest office project is 2000 Tower Oaks Boulevard in Rockville, Maryland.  The 200,000 square-foot world class office tower, that is designed for LEED™ Platinum certification, has served as its new corporate headquarters as of October 20, 2008.