FFC Capital Corporation Joint Ventures with Waterford Hospitality Group

Business Wire, August 2, 2005

PITTSBURGH -- Purchase of Radisson Hotel Marlborough Announced

FFC Capital Corporation announced that it has entered into a joint venture with Waterford Hospitality Group, LLC to purchase the Radisson Hotel in Marlborough, Massachusetts. The newly formed partnership, FFC/Waterford Marlboro Holding, LLC, which is owned 90% by FFC Capital Corporation and 10% by Waterford Hospitality Group, LLC, took ownership of the hotel on August 1. Waterford Hotel Group, Inc., an affiliate of Waterford Hospitality Group, has been appointed as manager of the Radisson property.

The new ownership has also announced plans for a comprehensive renovation of the property. The transformation will include extensive upgrades to all areas of the building. "We have enjoyed a long-standing relationship with Waterford and we look forward to another successful venture. The Radisson Marlborough has great potential and it is our intent to introduce another first-class facility to the community," stated Fred Branovan, Chief Operating Officer and Executive Vice President for FFC Capital Corporation.

The 206-room Radisson located in Marlborough, Massachusetts is in the heart of New England's high-tech corridor. The hotel features a restaurant, lounge, heated indoor swimming pool, fitness center, and more than 7,000 square feet of flexible meeting and banquet space. The spacious rooms and suites at the Radisson Marlborough feature such welcome amenities as high-speed internet access, executive desks, dataports, pay-per-view movies, coffeemakers, hairdryers and irons/ironing boards. Business Class rooms offer complimentary full breakfast, nightly turndown service and other premium amenities.

The hotel is convenient to the many corporate offices of the Marlborough area as well as the major sightseeing attractions of central New England. Points of interest near the Radisson Marlborough include Old Sturbridge Village, Worcester Art Museum, Fruitlands and Wrentham Village Premium Outlets.

FFC Capital Corporation

FFC Capital is a privately held investment management firm specializing in value-added real estate investments throughout the United States. The firm is headed by Milton Fine, former Chairman and founder of Interstate Hotels Corporation (IHC), which he built from its founding in 1960 into the largest independent hotel management company in the country when it was acquired by Wyndham Hotels and Resorts (formerly Patriot American Hospitality) in 1998. Following the sale of IHC, Milton and David Fine formed FFC Capital for the purpose of pursuing real estate and other investments.

Waterford Hotel Group

Waterford Hotel Group is a national hotel management firm currently operating 29 properties in 10 states. With corporate offices in Waterford, CT, Waterford Hotel Group is one of the most successful management companies in the hospitality industry. The company's nationwide roster of properties consistently achieves exceptional market share and returns well above industry averages. This outstanding record of accomplishment is based on strategic growth, intimate knowledge of industry trends, and providing value for customers and investors. For further information, contact Waterford Hotel Group, Inc., 914 Hartford Turnpike, P.O. Box 715, Waterford, CT 06385; telephone 860-442-4559, fax 860-437-7752, or visit the company's website at www.waterfordgroup.net.