The Residences at The Ritz-Carlton, Philadelphia Is Now Open by kellena87

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Contact:     Rachel Summers                    Cathy Schwartz
             215-875-4365                          856-317-2682
             rsummers@stargroup1.com           cschwartz@stargroup1.com


       The Residences at The Ritz-Carlton, Philadelphia
                        Is Now Open
 Residents Begin to Move In at Philadelphia’s Premier New Address
             Offering Legendary Ritz-Carlton Service


Philadelphia, PA (January 13, 2009) – Luxury urban living takes on a new
stunning level as The Residences at The Ritz-Carlton, Philadelphia opens its
doors today to welcome its first residents.

Offering a lavish array of five-star Ritz-Carlton amenities, The Residences is the
tallest and most expensive residential building in the city, costing an estimated
$285 million. The 48-story, 270-residence tower, located adjacent to The Ritz-
Carlton, Philadelphia, is a sparkling contemporary landmark opening onto the
Avenue of the Arts, the heart of the City’s cultural renaissance.

“We are proud to introduce a new style of luxury living never before seen in this
city that will be celebrated and enjoyed for years to come as a landmark on
Avenue of the Arts,” said Karim Alibhai, founder and principal of Gencom Group,
co-developer with the Arden Group. “Our ultimate goal has been to set the
highest standard with no details spared, and we have accomplished every aspect
of our objective to deliver to Philadelphia a residential skyscraper the city will
embrace.”

In anticipation of the opening, the new staff of The Residences at The Ritz-
Carlton, Philadelphia underwent intensive training to ensure that residents and
their guests receive the legendary, personalized services of The Ritz-Carlton.

“A select group of talented Ladies and Gentleman are looking forward to
providing our residents with The Ritz-Carlton lifestyle that enlivens the senses,
instills a sense of well-being and fulfills even their unexpressed wishes and
needs,” says Marcia Robertson, Director of Residences, who is responsible for the
management and operations of The Residences at the Ritz-Carlton, Philadelphia.
“We are delighted that 50% of our new Residence team will be transferring over
from The Ritz-Carlton, Philadelphia, bringing with them The Ritz-Carlton Motto,
“Ladies and Gentleman serving Ladies and Gentleman”.

Ms. Robertson leads the Residences team, with more than 21 years of experience
in the hospitality industry, including 14 years with The Ritz-Carlton. Joining the
residential management team are two additional Ritz-Carlton veterans.
Residences Manager Jameson Moreau, comes to Philadelphia from The Ritz-
Carlton, Boston Common and previously The Ritz-Carlton, New Orleans. Erin
Oosthuizen, Residences liaison, comes from The Ritz-Carlton, Philadelphia
where she has served as the hotel’s conference concierge for several years.

“The Residences offers owners the same unmatched luxuries they enjoy at Ritz-
Carlton hotels, but now in their own homes,” says Craig Spencer, founder and
president of The Arden Group, co-developer with Gencom Group. “From staff
and management who are dedicated to upholding the integrity of The Ritz-
Carlton brand, to every exquisite convenience and detail of the property,
residents are assured of extraordinary living.”

Services include 24-hour doorman and concierge, valet, in-residence dining
and private chef services, a gated private park and garden, and a chauffeur-driven
luxury car service. The Residences’ state-of-the-art amenities level, located on
the second floor, features a fitness club, with a yoga room and a 60-foot lap pool.

Residents can also enjoy spectacular new The Ritz-Carlton hotel lobby, where
superstar chef Eric Ripert’s 10 Arts has fast become one of Philadelphia’s
acclaimed dining experiences. Ripert’s Philadelphia presence goes beyond 10
Arts – he is also a Residence owner.

Residents will also be able to enjoy the cultural offerings of their prestigious
neighbors: The Wilma Theater, The Merriam Theater, The Kimmel Center, The
Academy of Music and The Prince Music Theater. Center City’s top retailers are
also within walking distance.

The Residences offer one-, two- and three -bedroom condominiums and
penthouses ranging from $550,000 to $12 million. For more information, call
215-851-8000 or visit www.philadelphiaresidences.com.

About AGC Partners, LC and Gencom Group
The Residences at The Ritz-Carlton, Philadelphia is a project of AGC Partners,
LC: a joint venture of The Arden Group and Gencom Group. The principals of
AGC Partners have been involved in many luxury residential and five-star hotel
projects across the country, including Ritz-Carlton properties at Key Biscayne,
Florida; Philadelphia, Pennsylvania; Kapalua, Maui, Hawaii; and Bachelor Gulch,
Colorado.

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