Lisa Beers
VP, Public Relations
Waterford Group
(860) 701-9621
lbeers@waterfordgroup.net

FFC AND WATERFORD JOINT VENTURE FOR
NEW HOTEL DEVELOPMENT IN STUART, FLORIDA
Marriott International Approves 120-Unit Courtyard by Marriott

(Waterford, CT – August 24, 2006) --- A Connecticut-based developer has announced plans to build a brand new 120-unit Courtyard by Marriott in Stuart, Florida. The development is a joint venture between Pittsburgh-based FFC Capital Corporation and Connecticut-based Waterford Hospitality Group, LLC. Scheduled to open in 2008, the $16 million hotel will be located at 95 Riverside, with direct access from both Interstate 95 and Florida's Turnpike.

According to the developers, who have worked closely with the Business Development Board of Martin County on this project, a non-refundable deposit has been placed on the parcel of land located at the intersection of I-95 and State Road 76. The group expects to close on the land in late 2006/early 2007.

"This location coupled with this hotel brand will clearly become a market leader," said Fred Branovan, President and COO of FFC Capital Corporation. "The Stuart area is a developing area and an attractive location for hotel development," said Rob Winchester, President and COO, Business Development for Waterford. "Based on our review of the market, we believe that a Courtyard by Marriott will be a welcomed alternative for the business and leisure traveler looking for first-class accommodations in the area." Waterford Hotel Group, a national hotel management firm currently operating 26 properties in 8 states, will operate the Stuart Courtyard by Marriott.

About Courtyard by Marriott
Courtyard by Marriott is the leading select-service hotel brand in the United States. Providing guests with a combination of casual comfort and time-saving services, Courtyard hotels feature large functional guest rooms and are conveniently situated where people travel. Courtyard guest rooms feature either a king-size bed or two queen-size beds, a seating area with sofa bed or oversized chair, a large, well-lit work desk and two telephones equipped with data ports. Other in-room amenities include free high-speed internet access, coffee maker, hair dryer, iron with ironing board, and cable television with a free premium movies channel. Designed by business travelers for business travelers, the Courtyard® provides all of the essential services and amenities for guests to stay productive while on the road.

About FFC Capital Corporation
FFC Capital is a privately held investment management firm specializing in value-added real estate investments throughout the United States. The firm is headed by Milton Fine, former Chairman and founder of Interstate Hotels Corporation (IHC), which he built from its founding in 1960 into the largest independent hotel management company in the country when it was acquired by Wyndham Hotels and Resorts in 1998. Following the sale of IHC, Milton formed FFC Capital for the purpose of pursuing real estate, hotels and other investments. For further information, contact FFC Capital Corporation, Dominion Tower, Suite 3110, 625 Liberty Avenue, Pittsburgh, PA 15222; telephone 412-444-3500, fax 412-697-0872, or visit the company's website at www.ffccapital.net. 


About Waterford Hotel Group, Inc.
With corporate offices in Waterford, CT, Waterford Hotel Group is one of the most successful management companies in the hospitality industry. The company's nationwide roster of properties consistently achieves exceptional market share and returns well above industry averages. This outstanding record of accomplishment is based on strategic growth, intimate knowledge of industry trends, and providing value for customers and investors. For further information, contact Waterford Hotel Group, Inc., 914 Hartford Turnpike, P.O. Box 715, Waterford, CT 06385; telephone 860-442-4559, fax 860-437-7752, or visit the company's website at www.waterfordgroup.net.