VINTAGE WINE TRUST TO DEVELOP NAPA STORAGE FACILITY

Real estate investment firm Vintage Wine Trust (VTW), has acquired a 3.8 acre parcel of land for $1.6 million in the Napa Valley Gateway Business Park in Napa County. VTW will use the land to develop a wine storage and transfer facility with capacity to store 2.5 million gallons of bulk wine. The projected cost of development is $6.6 million resulting in an expected total investment in this property of $8.2 million. The project is expected to be completed in August 2008.

The property is leased to Cameron Wine Storage - Napa, an affiliation of Butch Cameron Trucking, a leading bulk wine transportation company. The initial lease term runs through December 31, 2017, with three five-year renewal options.