Gryphon & Borror Team Up

FOR IMMEDIATE RELEASE

GRYPHON & BORROR TEAM UP

To Offer Real Estate Receivership Management Services

DUBLIN, OH -- Gryphon Asset Management and Borror Properties - two industry leaders with in-depth knowledge of this market and a comprehensive understanding of both property management and distressed-asset administration - have joined forces to assist the legal and banking industries in maintaining and transitioning real property in distressed and receivership scenarios.

Gryphon, lead by Richard Kruse, has over 15 years of nationwide experience participating in hundreds of bankruptcy and receivership transactions totaling in excess of two billion dollars in recovery value

Borror Properties, owned and operated by Douglas Borror and Lori Steiner, has over 35 years of expertise in development, construction, and management of apartment complexes, condominiums, and homeowners associations.

"Our goal over the past 8 years has been to continuously strive to streamline and simplify the process for all involved, stabilize day-to-day operations, protect value and provide a constant flow of information," Kruse said. "We not only have the personnel and resources to evaluate, manage, and improve operations, we have the ability to put together short and long term plans to increase the value of the asset," added Borror.

This partnership provides the strategic and tactical expertise to handle the most complicated projects in today's difficult marketplace including scattered site projects, partially developed communities and operating multifamily complexes of all sizes.

About Borror

Borror Properties was founded with the mission of providing outstanding real estate property management services as well as new home construction projects. Led by former Dominion Homes executives, Doug Borror and Lori Steiner, they bring expertise from many areas of the real estate industry including consulting, development, construction, property management, community management, and brokerage for sales and leasing.

About Gryphon

Columbus-based Gryphon USA, Ltd. and its subsidiary companies focus on the wind down and liquidation of single assets through and including entire companies. The company maintains a real estate brokerage practice, auction group, property management division and appraisal division. Co-founders Richard & Melissa Kruse also regularly hold engagements as court appointed receiver throughout the State Of Ohio and East Coast.

For more information about Gryphon and Borror and their services, log on to www.gryphonborror.com, contact Rich Kruse at 614-885-0020 x 17, or Lori Steiner at 614-356-5500.