Date: 12/5/2006

Korman Residential Properties proudly announces the kickoff of its new program, Korman Cares. The inaugural Korman Cares event took place on Saturday, October 21. Volunteers from Korman Residential painted the entire interior of Anderson Elementary School at 61st & Cobbs Creek Parkway in Southwest Philadelphia as part the 13th Annual Philadelphia Cares Day organized by Greater Philadelphia Cares (www.gpcares.com). Volunteers also cleaned up the playground at the school.

Korman Residential employees participated in Philadelphia Cares Day along with over 5,000 other volunteers from the Philadelphia area. Participants found it very gratifying. "It's nice to know kids are going to walk into this school on Monday and find it cleaned up and great looking with a fresh coat of paint," said Korman Residential Director of Marketing Debbie Peters. "Since we operate in the Greater Philadelphia area, this is an excellent event with which to kick off Korman Cares."

Korman Cares is a corporate charity program with approved charities that Korman Residential associates volunteer for, donate to and participate in functions with as a company.

The program's mission is to provide aid to those in need through contributions of time, money and resources from Korman Residential associates and residents; and care for all by cleaning up and beautifying our neighborhoods and helping our neighbors who are experiencing hard times.

This program allows for Korman Residential associates to take one work day a year to volunteer with one of our designated charities without affecting their time off. Associates can also volunteer on their own time as much as they'd like. Group participation is encouraged so associates can work together as a team for the common good of our surrounding community.

Some of the charities that are approved under the Korman Cares program have been supported by the Korman family for many years. Other charities, such as the Komen Philadelphia Race for the Cure and the Juvenile Diabetes Research Foundation, were chosen because Korman Residential associates and/or their family members have been affected by those diseases. Charities have also been chosen in response to a crisis, such as Korman Residential's commitment to working with the American Red Cross for something other than blood drives after Hurricane Katrina devastated our neighbors to the south. Greater Philadelphia Cares (www.gpcares.com) was chosen because it supports the creation of vibrant communities by motivating people to volunteer their time, talents, and resources throughout the Greater Philadelphia area, including New Jersey and Delaware; and we want to help sustain vibrant communities.