11.15.04
Noted Lawyer Brian K. Friedman Named Vice-President and General Counsel for AMC Delancey

Contact
Stephanie W. Singer, Beckerman Public Relations
(908) 781-6420, Stephanie@beckermanpr.com

PHILADELPHIA, PA, NOVEMBER 15, 2004— AMC Delancey Group, Inc., a Philadelphia, Pennsylvania-based national real estate investment company, has announced that Brian K. Friedman, a noted lawyer with more than 20 years of experience practicing law, has joined the organization as Vice President and General Counsel. In the capacity of in-house counsel and a member of the executive committee, Friedman will direct the overall legal activities of AMC Delancey Group, Inc. and advise on legal issues as they relate to operational and investment activity.

A Philadelphia resident, Friedman previously served as Executive Vice President and General Counsel for Tower Investments, Inc., a real estate investment and development company. There, he was responsible for developing, financing, leasing and management of shopping centers, administration of partnerships and legal affairs. In addition to his day to day responsibilities, Friedman participated in the spearheading many initiatives, including most recently, Tower’s redevelopment of the Northern Liberties neighborhood of Philadelphia, efforts to secure the development rights of Penn’s Landing, and the naming of the company as the redeveloper of the former “Jump Street” project at Broad Street and Cecil B. Moore Boulevard.

Prior to joining Tower in 1997, Friedman served as Vice President and General Counsel for Frontenac Financial Group; U.S. General Counsel and President of the D.A. Lease Co. Division for Dixons Group, PLC; Vice President of Property, General Counsel and Secretary and Chief Administrative Officer for Dixons America Holdings, Inc.; and Vice President and General Counsel, Director of Real Estate and Secretary, and Chief Administrative Officer for Silo, Inc., a former Philadelphia based retail company owned by Dixons Group, PLC.

Friedman earned a Juris Doctorate from Washington University School of Law and graduated Summa Cum Laude with a Bachelor of General Studies from the University of Kansas.

Kenneth P. Balin, President and CEO of AMC Delancey Group, said, “We are extremely pleased that Brian Friedman has joined our company. He is an exceptionally talented attorney with years of hands-on experience, and he will be pivotal in helping us execute our growth strategy. In addition to his legal and development role, he will be a key advisor to our internal team and our operating partners. Our goal at AMC Delancey is to build an outstanding team of professionals who can help us manage and grow this business in the most ethical and effective manner. Brian comes to AMC Delancey Group with credentials and experience to further facilitate the company’s immediate and long term growth plans”.

Friedman stated, “AMC Delancey is one of the leading investment firms in many facets of the real estate industry. Led by Ken Balin, the executive team possesses a monumental skill level, experience, and commitment to meet the challenges of profitability and overall success in the current real estate environment, with a proven business model that will be sustaining into the future. As such, I am excited to join the company as it dramatically expands throughout the Northeast and beyond.”

As part of its strategy of aligning itself with operation partners throughout the east coast, AMC Delancey recently announced joint ventures with two new operating partners. In April, AMC Delancey announced the acquisition of a multi-family property in Gaithersburg, Maryland with Ross Investment & Development of Bethesda, Maryland, as well as the acquisition of a hotel in Jacksonville, Florida with Paramount Hotel Group of Fairfield, New Jersey. The Company plans more acquisitions with both firms and is actively pursuing additional relationships in major east coast markets with other seasoned operating partners.

Founded by Kenneth P. Balin in 1992, AMC Delancey Group, Inc. is a long-term investor in real estate that delivers superior risk-adjusted financial returns by aligning interests with leading local operating partners and investors throughout the east coast. Headquartered in Philadelphia, Pennsylvania, the Company targets long-term relationships with operating partners from New England to Florida. For more information on AMC Delancey Group, visit www.amcdelancey.com.