CRI Inc. selects NHP to provide asset management services for CRI partnerships containing 285 affordable housing communities.

ROCKVILLE, Md.--(BUSINESS WIRE)--March 4, 1996--Real estate investment firm CRI Inc. of Rockville, has selected Washington, D.C.-based NHP Inc. (NASDAQ:NHPI) to provide real estate asset management and disposition services for 285 affordable multifamily housing communities owned by 128 of CRI's public and private real estate investment partnerships.

NHP replaces Capital Management Strategies Inc. (CMS), a company owned by Martin C. Schwartzberg.

CRI Chairman William B. Dockser said, "Our investors will be very pleased to know that NHP will be asset managing properties underlying their investments. Rod Heller and his team at NHP are quality people with unrivaled experience in assisted housing. We are very pleased they are working with us."

NHP Chairman J. Roderick Heller III said, "We are very pleased to undertake this management on behalf of CRI and its investors. This portion of the CRI portfolio is exactly the type of high-quality assisted housing we have been asset managing for 25 years. We look forward to a mutually beneficial, long-term relationship with CRI and its partnerships."

The agreement between CRI and NHP covers properties within two series of CRI investment partnerships -- known as Capital Housing Partners (CHP) and Capital Realty Investors. Capital Housing Partners is a series of more than 125 private partnerships that invested primarily in assisted multifamily housing.

The CHP properties operate under a variety of federal and state housing programs. Capital Realty Investors is a series of five, large publicly-registered, but untraded, partnerships that invested mostly in assisted housing under federal and state programs, with some market rate housing.

NHP will be asset managing properties in 124 of the CHPs and four of the five Capital Realty Investors partnerships.

CRI Inc. is a national real estate investment firm. Through more than 130 public and private investment partnerships, CRI holds interests in more than 50,000 units of multifamily housing and 20 hotels nationwide. There are 40,000 investors in its investment programs.

NHP Inc., whose stock is publicly traded on the Nasdaq stock market, is the second largest manager of multifamily housing properties, and the largest manager of affordable multifamily properties in the United States, with a total portfolio of 725 properties (134,000 apartment units), over 470 of which (60,000 units), are affordable properties.

The company provides a full range of asset management and property management services to owners of multifamily housing in 38 states, the District of Columbia and Puerto Rico.

CONTACT: CRI Inc., Rockville

by

Pastore Communications, Washington

Jim Pastore, 202/546-6451

or

NHP, Washington

Joel F. Bonder, 202/326-8232