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323 Residences Announce Initial Work on Site has been Completed

May 2 2007

323 Residences announces that initial work on the site has been completed on the 49-unit luxury condominium development to be built in Lake Tahoe, Nevada on Tramway Drive next to Heavenly Ski Resort. Local contractor Ferguson Excavating, Inc. handled the excavation and site work. In addition, erosion control measures were taken on the site to ensure that the surrounding land and roadways would not be affected by storm runoff. Construction is expected to be completed in late spring to early summer of 2008, with the Grand Opening of 323 Residences to occur soon thereafter.

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