THE OFFICIAL SITE FOR ASBURY PARK REDEVELOPMENT, NEWS AND ENTERTAINMENT.
   
   
November 10, 2004

OCEANFRONT ASBURY DEVELOPERS LAUNCH COOPERATIVE WEB SITE OFFERING "ONE-STOP SHOPPING" FOR PROSPECTIVE RESIDENTS

Following a successful joint groundbreaking celebration this fall in Asbury Park, New Jersey, the three residential subdevelopers of Oceanfront Asbury and the project's master developer joined together to launch a new user-friendly web site, www.OceanfrontAsbury.com. The new Internet destination focuses on the waterfront redevelopment of this historic shore town.

"Now, anyone interested in moving to Asbury Park, as well as residents already in the area, can access one simple web site to explore the diverse waterfront real estate options within Oceanfront Asbury," noted Larry Fishman, chief operating officer of Asbury Partners LLC, master developer. The comprehensive Oceanfront Asbury plan to re-establish Asbury Park as the "Jewel of the Jersey Shore" includes the development of approximately 3,000 residential units, a 450,000-square-foot retail/entertainment component, improved municipal services, and urban empowerment initiatives. Up-to-date information on all the components of Oceanfront Asbury is available through the new web site.


Oceanfront Asbury's subdevelopers, Westminster Communities of Florham Park, Paramount Homes of Jackson, and Metro Homes of Hoboken, worked together to create a single Internet site that would be informative and easy to use. The site provides direct links to each developer's own web site, where detailed home information is available and buyer registration can occur.

Westminster Communities is constructing Wesley Grove at Asbury Park along the City's South Shore, overlooking Wesley Lake. The project's first phase features 146 luxury townhomes, condominium and duplex units with scenic waterfront views, conveniently located near the revitalized downtown area. Paramount Homes is building 157 condominium residences on Ocean Avenue in the North Shore district. Known as North Beach Asbury Park, the resort-style community will offer one-, two- and three-bedroom home designs in three buildings centered around a courtyard with a sundeck, swimming pool and other amenities.

Metro Homes recently acquired a square-block site along Ocean Avenue that contains the remains of an unfinished development project, which dates back to 1989. The developer plans to rebuild the existing structure into a new complex, which will feature 224 luxury oceanfront condominium homes in two towers connected by three stories of parking and ground floor retail space. The project, which will include one-, two-, three- and four- bedroom units, will include amenities and features similar to those found in upscale Manhattan residential towers.

The new web site also features development news and progress, an overview and renderings of each developer's plan for their project, as well as current events and happenings in town, at the Paramount Theater and Convention Hall. Site visitors also will be able to access an archive of news releases, view photos of recent events, and peruse nostalgic photos from Asbury Park's renowned shore resort past. Initially the site will be updated weekly.

"We've developed a destination web site that provides potential buyers, the media, and anyone with fond memories of Asbury Park, a singular source of information," explained Nick Vincelli, director of technology for Paramount Homes.

"We're proud of what has already been accomplished in Asbury Park, and we want people to see the progress as it occurs," added Fishman. "The web site - itself - is a fine example of the unprecedented cooperative spirit at work on this great city's behalf."