Bayview Financial to Develop Luxury Residential Community in Bar Harbor, Maine.

BAR HARBOR, Maine -- Bayview Financial partners with Fairmont Hotels & Resorts to develop the Fairmont Residences at Bar Harbor, bringing luxury living to one of New England's most spectacular coastal villages

Bayview Financial, a leading full-service real estate investment, development and mortgage finance company, and Fairmont Hotels & Resorts, a luxury hotel management company with over a century of hospitality experience, announced today plans to develop the Fairmont Residences at Bar Harbor, a distinguished community with 25 luxurious homes located in the scenic coastal village of Bar Harbor, Maine. While initial preparations have already begun, official groundbreaking is anticipated for late Fall 2006 with completion ready for the 2008 summer season.

The Fairmont Residences at Bar Harbor will offer luxurious town homes in one of the country's most popular vacation spots. With commanding views of the surrounding Frenchman's Bay, Bar Island and Acadia National Park, this residential community will be tastefully fashioned in tribute to the architectural heritage of old Maine.

"We're excited to bring this beautiful residential community to Bar Harbor, a landmark American vacation destination and one of the country's most scenic coastal villages," said Robbie Oppenheim, managing director of Bayview Financial. "When combined with the superb amenities that have made Fairmont a leader in global hospitality, the Fairmont Residences at Bar Harbor offers buyers a one-of-a-kind opportunity to be a part of a truly unique New England community."

Situated alongside the Atlantic Ocean on Maine's noted Mount Desert Island, Bar Harbor is the quintessential New England coastal village. Surrounded by the wooded forests and granite ridges of Acadia National Park, the village combines colorful Victorian-era homes and shops set snugly alongside a picturesque harbor dotted with lobster boats, schooners and stately yachts.

Bayview and Fairmont are focused on ensuring that the new residential project will have a positive impact on the Bar Harbor community. To that end, they have been actively supporting area non-profit organizations, including, among others, underwriting the cost of the Rotary Club's annual pancake breakfast and seafood festival during Bar Harbor's recent Fourth of July celebration. Proceeds from the event support the service club and its charitable giving locally and abroad. Other future events that Bayview Financial will be supporting are the Mount Desert Island Marathon and the Friends of Acadia Gala, which supports the efforts of Acadia National Park.

Fairmont is committed to environmental protection and sustainability guided by its own Green Partnership Program, a company-wide stewardship program, which strives to minimize the properties' operational impact on the environment through resource conservation and best practices. Recognized by National Geographic Traveler as the most comprehensive environmental program in the North American hotel industry, the Green Partnership allows Fairmont to meet and exceed owner and guest expectations of operational sustainability helping protect the habitat, resources and culture of the places where colleagues and guests work, live and play.

Added Mr. Oppenheim, "We see the Fairmont Residences at Bar Harbor as a complement to the peaceful and serene community of Bar Harbor. As such, we have worked very hard to ensure that it not only blends in tastefully with its surroundings, but also enhances the surrounding community as well."

The Fairmont Residences at Bar Harbor will offer an array of amenities including a centrally located Clubhouse, complete with a heated outdoor swimming pool and jacuzzi, billiard room, private multimedia room, clubroom for social gatherings of all sorts and a fitness center with the latest exercise equipment. Residents will also have access to professional concierge services that will assist guests with on-site support.

About Bayview Financial:

Headquartered in Miami, Bayview Financial is a full-service real estate investment, development and mortgage finance company that specializes in meeting the needs of real estate investors, mortgage companies, banks, savings institutions, and loan and securities brokers. The company provides a wide array of products and services, including the origination of small-balance commercial real estate loans, the purchase of residential and commercial real estate loans, the investment in and development of commercial real estate, and the delivery of 1031 exchange services to real estate investors.

About Fairmont Hotels & Resorts

Featuring a collection of fabled castles, secluded lodges, storied meeting places and modern retreats, Fairmont Hotels & Resorts opens the doors to some of the world's most celebrated addresses. With locations throughout nine countries, our 51 distinctive hotels - including The Fairmont San Francisco, The Fairmont Banff Springs and London's Savoy - promise travelers rich experiences and lasting memories in unparalleled settings. Committed to growing its portfolio of world-class hotels, Fairmont will soon reflag five hotels in Kenya and anticipates the 2007 re-opening of New York's famed Plaza Hotel. Future Fairmont Hotels & Resorts also include locations in Cairo, Turks & Caicos, Abu Dhabi and Dubai's Palm Island. Fairmont Raffles Holdings International owns and operates 120 hotels worldwide under the Fairmont, Raffles, Swissotel and Delta brands. The Fairmont Residences are one of the brand's vacation ownership offerings, with projects scheduled in locations including Tamarack, Idaho; Indian Wells, California; Vancouver and Dubai.