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CREEKSTONE BREAKS GROUND ON THE RESERVE AT CEDAR LODGE - Monday, June 23, 2003

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HOUSTON, June 23, 2003 – Creekstone Capital has begun construction of The Reserve at Cedar Lodge, an upscale 300-unit apartment community located at 6765 Corporate Boulevard. It is being developed on 12 acres of land adjacent to the soon-to-be-developed Towne Center at Cedar Lodge, Baton Rouge’s first lifestyle center. Houston-based Creekstone Capital will develop the sister-projects, which will be connected by long, winding sidewalks.

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