First Lot Sold at Patuxent Business Park in Lusby, Md.

Calvert County, Md. Department of Economic Development Announces Osprey Property Company Ready to Break Ground on 20,000 Square Foot Building

PRINCE FREDERICK, Md., -- August 16, 2005 -- The news out of Calvert County, Md. today is that an Osprey has landed – Osprey Property Company, a real estate development and investment company, signed a contract last week to purchase the first lot in the newly designed Patuxent Business Park (PBP) in Lusby, Md.

Brett Guy, Executive Vice President of Osprey, with offices in Annapolis and Richmond, expressed his enthusiasm for this new development project. “We are always on the look-out for attractive and innovative real estate opportunities,” he said. “Patuxent Business Park is in a prime location in Southern Maryland and we are excited to get in on the ground floor of this project.” The company plans to break ground on their 20,000 square foot building in early 2006 and be ready for occupancy by the end of 2006. The building will be designed to house up to eight office condo spaces that will sell at competitive Southern Maryland rates.

David Hale, president of the Calvert County Board of County Commissioners said, “We’re right on schedule with this project and extremely pleased to welcome our first tenant to the Patuxent Business Park. I am certain that Osprey’s project will be the first of many high quality and talented businesses to locate at this site – Calvert County’s quality of life is unequaled in the Washington, DC market, plus this Park is in a prime location and features the types of amenities today’s leading businesses expect.”

PBP is Southern Maryland’s first comprehensively planned business campus, designed to accommodate a wide range of innovative businesses. Linda Vassallo, Director of the Calvert County Department of Economic Development said, “The project grew out of the County’s desire to recruit high technology organizations and build on Calvert’s ideal proximity to the Patuxent River Naval Air Station and the nation’s capital.” The meticulously planned, 92-acre business park offers an attractive, campus-like setting with approximately 30 acres preserved as green space to ensure a natural environment.

With significant assistance from the Maryland Department of Business and Economic Development (DBED), and cooperation from the Maryland Economic Development Corporation (MEDCO), the County created a partnership that has, together, designed and developed the 700,000 square foot Park, clearly demonstrating why Calvert County is the place where quality of life and an entrepreneurial climate come together.

For more information about the Patuxent Business Park, visit www.patuxentbusinesspark.com or contact the County’s sales and development team at Coldwell Banker Commercial Capitol Realty Services at 800.359.5035 or via e-mail at paxbuspark@cbccapitol.com.

For more information on the Calvert County, Maryland Department of Economic Development, our visitor sites and attractions and the services available to assist County businesses, call 410.535.4583, 800.331.9771 or 301.855.1880; or send an e-mail to info@ecalvert.com