PREGEL USA AND CABARRUS COUNTY IN DISCUSSIONS ABOUT INTERNATIONAL BUSINESS PARK AT CONCORD RELOCATION

CONCORD, N.C., August 11, 2006—PreGel USA, an Italian producer of gelato, is considering purchasing approximately 20 acres in the International Business Park at Concord for a North American headquarters.

The investment, projected at roughly $8.5 million, would include building a 100,000 square foot facility in the Park. A research and development center and an Americas' training center would be incorporated into the new building. The firm's other training centers are in Japan and Germany. The site also has the potential for future expansion.

The Cabarrus County Board of Commissioners and the Concord City Council will both hold public hearings to consider economic development grants. The economic development grants are sourced from the additional tax revenue provided by the new investment. After the grant ends, the city and county receive the complete additional tax revenue.

"The International Business Park, with its strong international presence, access to I-85 and location within Cabarrus County make it an attractive location for PreGel USA," said Ryan McDaniels, director of economic development, the Cabarrus EDC. "This firm has a worldwide track record of attracting other companies to their location, much like our current motorsports base attracts suppliers."

PreGel is the world's largest producer of raw materials for gelato. These raw materials comprise bases, powders, and flavoring extracts for the fresh dessert made at customer sites.

"This project is an outstanding fit for the County, especially when you consider the R&D aspect," said McDaniels. "It ties in nicely with the North Carolina Research Campus and would help us connect downtown Kannapolis with the research facilities at UNC Charlotte."

If the County and City approve incentives, PreGel will be the second company to locate in the Park's Commerce & Research Center. Formerly called Phase II, this 150 acre tract with excellent I-85 visibility offers lot sizes ranging from 6 acres to 50 acres and can accommodate buildings from 6,500 square feet to as large as 350,000 square feet.

Available sites are designed with research and development companies in mind, as well as for warehouse and distribution purposes, multi-story buildings and corporate headquarters for medical, financial and professional services.

Activity has picked up significantly at the Park in the last few months, with ESP Associates, Schubert & Salzer, and LYF-TYM occupying space in the International Corporate Center. Connextions Inc., is also considering space in the same building, with contracts pending. Walker Marketing, Inc., and BJW Architecture Inc., also moved into their newly constructed 10,000 square-foot building in the Commerce & Research Center.

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About The International Business Park at Concord, N.C.
The International Business Park at Concord, N.C. is high-quality business park located northeast of Charlotte, N.C. adjacent to I-85 in Cabarrus County.

With 517 acres, the International Business Park at Concord offers a strategic master plan for development conceived through extensive research and attention to every detail. The result is a sophisticated business environment in which commerce can flourish. Currently more than 300 acres are available throughout the entire park while a 74,000 square-foot flex building is currently available for leasing and custom up fitting. The Nolim Group is ready to work together on land sales, leasing or build-to-suit projects.

The Park is divided into three developmental phases including, industrial/manufacturing and warehouse/distribution in phase one, warehouse/distribution, flex space and office for medical and professional services in phase two and lastly, a mixed-used phase including a combination of commercial retail, hotel and restaurants in phase three. Land can be parceled into one up to 100+ acre sites, depending on its location, each available for sale and ready for development.

Currently, The International Business Park is home to Owens Corning, Minka, DNP IMS America Corporation, Sysco Food Service of Charlotte, Inc., Pass & Seymour/Legrand, FedEx, Oiles America Corporation, and ESP Associates.

About The Nolim Group
The International Business Park at Concord is owned by real estate development and investment company, The Nolim Group, which is comprised of experienced real estate and business professionals with ties worldwide. Headquartered in Boca Raton, FL, The Nolim Group has taken a leadership role towards enhancing economic development within the Piedmont Region of North Carolina on a global scale.

© 2006