First Columbia Begins Construction of Medical Center At New York International Plaza.

Business and Health Editors

NEW WINDSOR, N.Y.--(BUSINESS WIRE)--March 25, 2002

Medical Center of New Windsor Broadens Range of

Healthcare Options for Hudson Valley Residents

First Columbia is breaking ground today for The Medical Center of New Windsor at New York International Plaza-the Albany, NY-based development company's third building at the New Windsor site adjacent to Stewart International Airport.

When construction of the 49,000 square foot medical facility is completed this fall, residents of the area will, for the first time, have streamlined access to the most advanced medical services. The Medical Center of New Windsor promises to become the premier outpatient medical facility in Orange County. The alliance of local physicians with St. Luke's Hospital/Cornwall Hospital, Westchester Medical Center, Family Practice Centers of New Windsor (A member of the Mid-Hudson Family Health Institute), Children's Physicians of Westchester and Cardiology Consultants of Westchester will integrate a range of services and improve the way medical care is delivered to the region.

This fully-equipped medical complex will be an integrated healthcare facility where patients can receive the most basic to the most advanced medical attention and diagnostic services from a single location. The proximity of Stewart airport ensures rapid medevac transport of patients to Westchester Medical Center, the closest university medical center between New York City and Albany for advanced care.

The facility will offer a broader spectrum of healthcare services, including primary care such as family and pediatric care; specialty care such as cardiology, neurology, and other surgical sub-specialties; and integrated services such as diagnostic imaging, laboratory, radiology, industrial medicine, social, psychiatric and wellness services.

"What we are providing is a seamless range of services, from primary to advanced care so patients can benefit from both improved care and less travel time. For example, cardiac patients from prenatal to geriatric can now be referred to a world-class specialist, all under one roof," explained David Mesches, M.D., CEO of the Mid-Hudson Family Health Institute. "The Hudson Valley region and Orange County, in particular, are strong growth areas of Westchester Medical Center's regional coverage," noted Edward A. Stolzenberg, President and CEO of Westchester Medical Center. "With this new medical facility, we can be well integrated with our partners. This ensures that everyone in our region has the finest continuum of healthcare, from access to primary care to the advanced care specialists from Westchester Medical Center. And as an academic medical center, we are involved with biotech research and clinical trials of new drugs and procedures that can greatly benefit the people of the Hudson Valley Region, both from an economic and healthcare standpoint."

"We are pleased to be a part of this project and offer a comprehensive imaging center at this site," said Allan E. Atzrott, President and CEO of St. Luke's Cornwall Hospital. "Our community has experienced considerable growth in recent years, resulting in an increased demand for outpatient services. In order to accommodate the needs of our communities, we need to offer increased accessibility to these services. Our new comprehensive imaging center will allow us to continue to offer the best possible health care to our community in a convenient location."

Explained Kevin Bette, a partner at First Columbia, "Medical, bio-tech and high-tech firms are enthusiastic about a campus like this, as it meets some unique technical and commercial needs. We've taken the best of what we have learned from our projects around the country and brought them to the Hudson Valley." Eighty-five percent of the new medical center is already leased. The facilities boast a state-of the art fiber optic backbone and direct access from major highways, including a new direct Interstate 84 exit.

Attractive incentives are available to potential tenants at the 260-acre corporate campus. New York International Plaza is designated as an Economic Development Zone (EDZ), a classification that offers tax credits and utility rate reductions. International commerce firms can enjoy a host of cost-saving incentives offered by the Plaza's designation as a Foreign Trade Zone (FTZ).

First Columbia International Group is a corporate subsidiary of First Columbia, LLC, an international development services company. First Columbia specializes in large-scale master planned developments such as New York International Plaza, and has developed properties from Maine to Florida to Texas.

Interviews, Project Renderings and Photos available by request.