Company Rejects Offer From Sutter Holding Company, Inc.; Stonehaven Realty Trust Engages Friedman, Billings, Ramsey & Co., Inc. as Company Advisor.

Business Editors

Stonehaven Realty Trust (AMEX:RPP) announced the rejection of an unsolicited offer from Sutter Holding Company, Inc. to acquire all the outstanding Series A Preferred stock and Common stock of Stonehaven Realty Trust.

Separate from the aforementioned matter the Company has engaged Friedman, Billings, Ramsey & Co., Inc. ("FBR") to serve as a financial advisor to the Company and assist with evaluating capital raising and other strategic options. The Company has also engaged AMG Capital, LLC to provide additional advisory and consulting related services and advise on debt and mortgage investment portfolios.

About Stonehaven Realty Trust

Stonehaven Realty Trust is a real estate operating company separated into two business segments: a commercial real estate segment, which acquires, owns and operates commercial real estate and a technology segment, which through July 10, 2001, provided information technology consulting and document management solutions.

About AMG Capital, LLC

AMG Capital, LLC is a financial advisory company which provides highly personalized financial management services to small and medium sized growth and acquisition companies, including debt and equity structure and finance (both private and public) and underwriter evaluation and identification. AMG also provides merger and acquisition analysis, due diligence and portfolio management, and monitoring and advisory services.

Certain matters discussed within this press release may be deemed to be forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Stonehaven Realty Trust believes the expectations reflected in such forward looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Stonehaven's expectations include changes in local or national economic or real estate conditions, expanding a new line of business, customer demand for online services and products, uncertainty of emerging online services, ability to meet competition, loss of existing key personnel ability to hire and retain future personnel and other risks detailed from time to time in the company's SEC reports and filings, including its annual report on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.