Federation of Exchange Accommodators Elects New Leadership.

New President, Board Members and Industry Award Selected at Conference

PHILADELPHIA -- The Federation of Exchange Accommodators (FEA) announced today the election of Mary Foster, CES[R] of 1031 Services, Inc of Bellevue, WA to the position of President of the Association. In addition, new members of the Board of Directors were installed including: F. Moore McLaughlin of All States 1031 based in Providence, RI and Brent Abrahm of Accruit 1031, based in Denver, CO., and Board Officers: President Elect: Margo McDonnell, CES[R] of 1031 Corp., in Royersford, PA; Treasurer: Dennis Helmick, CES[R] of Exchange Facilitator Corp, in Seattle, WA and Secretary: Teresa Story-Turner, CES[R] of Nationwide Exchange Services of Henderson, NV. All appointed positions will serve a one-year term for the Association.

The FEA is the only national trade organization formed to represent the Qualified Intermediary (QIs) industry and the interests of consumers who use these services. Qualified Intermediaries are professionals who are trained to execute 1031 Exchanges. The FEA also represents the legal/tax advisors and affiliated businesses that are directly involved in Section 1031 Exchanges. Section 1031 of the Internal Revenue Code provides that no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business, or for investment.

The Board of Directors met on Thursday, October 4, 2007 at the FEA's Annual Conference held last week in Chicago, IL and voted on the incoming officers. The Association's immediate past-president is Hugh Pollard, CES[R] of First American Exchange Company, LLC, based in Chicago, IL, who served a one-year term as President.

Pollard presented the FEA's Presidents Award to Dave Brown of Iowa Property Exchange, who has been very active in the Industry's grassroots efforts in the Midwest. The President's Award is given out each year at the annual conference to the individual who has shown exemplary initiative in moving the industry forward through the value of their work.

Thirty-four professionals took the bi-annual examination for the designation of Certified Exchange Specialist[R] (CES[R]) on Thursday, October 4 at the conference. The CES[R] Program was established by the FEA in 2003 to formally recognize individuals who have satisfied an experience requirement and demonstrated through testing their comprehensive knowledge of Section 1031 and the facilitation of like-kind exchanges.

Currently there are 246 CES[R] Designees nationwide. Results of this test will be made available in 4-6 weeks.

David Lereah, current Vice President of Move Inc. and former chief economist of the National Association of REALTORS[R] (NAR) delivered the Conference Keynote.

"It's been an honor to serve this organization as the President, especially during the past year where the industry has begun an evolution driven by unexpected developments," said Hugh Pollard, Immediate Past President, FEA. "Mary Foster is the right person to step in and lead this Association and it's members through the changes that are on the horizon. Her professional experience coupled with her commitment to the Industry will guarantee success in this role."

"I'm honored to be selected for the job as President," said Foster. "Working with the FTC and member companies to create new safeguards for consumers of 1031 Exchanges is a much needed effort that will benefit the industry overall for years to come. I welcome the challenges that this position will present to me professionally and look forward to serving the Association in this manner."

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The Federation of Exchange Accommodators (FEA) is a national trade organization formed to represent qualified intermediaries (QI's), their primary legal/tax advisors and affiliates who are directly involved in Section 1031 Exchanges. Formed in 1989, the FEA was organized to promote the discussion of ideas and innovations in the industry, to establish and promote ethical standards of conduct for QI's, to offer education to both the exchange industry and the general public, and to work toward the development of uniformity of practice and terminology within the exchange profession. The FEA also provides timely input and updates on pending issues at the State and Federal level, Internal Revenue Service and Treasury Rulings, and Court Decisions.

For more information on membership in The FEA, please visit www.1031.org.