September 27, 2001

WAYNE, NJ - The Mainardi Management Co. today announced several lease signings at properties managed by the Company.

At the Franklin Shopping Center in Franklin, Sussex County, New Jersey, the Company leased 4,500 square feet to Marty's Shoes. Marty's is a discount shore and sneaker retailer with about 100 stores in the mid-Atlantic area. Marty's is headquartered in Secaucus, New Jersey.

In Totowa, New Jersey, the Company leased 33,400 square feet for use as a self-storage facility. The property, which had previously been used for a warehouse,, underwent substantial renovation to accommodate the new tenant.

In Marlton, Burlington County, New Jersey, the Company leased 1,244 square feet to Fantastic Sams. Fantastic Sams specializes in no appointment haircuts and has around 1,400 stores located throughout the country. Also in Marlton, the Company leased space to Ten Thousand Villages, a unique gift shop featuring items made in third-world towns and villages throughout the world.

Lastly, Equity Properties of Haverford, Pennsylvania, leased 8,910 square feet at the Runnemede Plaza to Dollar General (DG-NYSE). Dollar General operates approximately 5,300 stores located throughout the United States. Equity Properties also leased 2,350 square feet at the Runnemede Plaza for use as a 99 Cent Store.

Mainardi Management Co. is a family owned and operated real estate investment and management company based in Wayne, New Jersey. The Company currently manages eleven commercial properties totaling approximately 943,000 square feet, all located in New Jersey.

For further information, contact Richard Mainardi, Jr. or Christopher L. Mainardi at (973) 696-9265.