FOR IMMEDIATE RELEASE
Contact: Herman Bulls, President & CEO
+1 (202) 256-1814
herman.bulls@bullscapitalpartners.com

Bulls Capital Partners Hires Douglas Westfall as Senior VP

Vienna, Virginia, July 18, 2005 -- Bulls Capital Partners LLC, a multi-family financial service provider and Fannie Mae Delegated Underwriting & Servicing (DUS™) lender, today announced the appointment of Douglas Westfall as Senior Vice President. Mr. Westfall, previously with GMAC Commercial Mortgage's Affordable Housing Division, will be responsible for marketing, origination, and business development for the newly-created Affordable Housing Division.

Mr. Westfall has more than 25 years experience in commercial mortgage finance, with the last 13 being in affordable housing. Prior to his position at GMAC he served as director of multifamily affordable housing finance for Freddie Mac, where he managed all multifamily affordable housing debt products. Mr. Westfall came to Freddie Mac after holding the position of southeast regional director for affordable housing at Fannie Mae, where he was responsible for managing the multifamily affordable housing activities for the southeast regional office and was instrumental in helping to create Fannie's basic affordable housing products.

“We are privileged to have Doug Westfall join the Bulls Capital Partners team,” said Herman Bulls, President & CEO of Bulls Capital Partners. “Doug is a very seasoned and well respected industry professional who has been responsible for shaping the affordable housing industry in America. His experience working with major agency lenders as well as GMAC positions him to build a sustainable affordable platform for Bulls Capital Partners. We look forward to having him work with our customers and position Bulls Capital Partners as a thought leader in the structuring and application of affordable housing finance.”

“We are continuing to add the highest quality people to the Bulls Capital Partners team. Doug's reputation and focus on customer service fits very well with our culture at Bulls Capital Partners,” said Mark Van Kirk, Chief Operating Officer and Co-Founder of Bulls Capital Partners. “Doug's leadership and experience will add tremendously to the talent base of Bulls Capital Partners.”

Bulls Capital Partners is a joint venture of SunTrust Bank, one of the nation’s largest commercial banking organizations, and Bulls Multifamily, LLC, a minority-controlled firm headed by Mr. Bulls and Mr. Van Kirk.

Bulls Capital Partners has established correspondent relationships with SunTrust Bank and Jones Lang LaSalle.

Bulls Capital Partners, LLC is a Fannie Mae-approved DUS lender, which offers a full array of financing solutions to owners of multifamily property. Bulls Capital Partners key capabilities under the DUS program include small loan solutions, student housing, affordable housing solutions, market-rate multifamily mortgages, and credit facilities, among other offerings.