The Chicago Spire Launches in Asia

The Chicago Spire global sales campaign begins a five-city Asian
road show today with an opening exhibition in Singapore. Launched in
January at a highly successful event in Dublin, the global marketing
drive will continue to Hong Kong, Shanghai, Beijing and Kuala Lumpur
before travelling to key cities across Europe and South Africa.
Designed by Santiago Calatrava, The Chicago Spire is an iconic
2,000-foot residential building located on the shores of Lake
Michigan.

Garrett Kelleher, executive chairman of Shelbourne Development
Group, Inc., and internationally celebrated architect Santiago
Calatrava, who together conceived The Chicago Spire, attended the
Singapore opening event last night to celebrate the project´s official
launch in Asia.

"The Chicago Spire is more than a remarkable building. It´s an
icon," said Kelleher. "The initial response from the global community
has been outstanding, evidenced by our tremendously successful launch
in Dublin. The Asian community has already expressed significant
interest in The Chicago Spire, and we are looking forward to a very
exciting road show."

When complete in 2011, The Chicago Spire will be home to 1,194
individual residences and a range of amenities that will rival any in
the world. No two residences will be alike, with each suite, gallery,
one - four bedroom home and penthouse offering a unique floor plan and
outstanding views of the city and lakefront.

Construction of The Chicago Spire began in June 2007, and
occupancy is expected Q4 2011.

For more information, see www.thechicagospire.com, or contact the
Sales Center at 312.516.4800 to make an appointment.

About Shelbourne Development

Shelbourne Development, headquartered in Dublin, is one of
Ireland´s leading property development companies, widely regarded as
one of the country´s most professional and progressive developers. In
the past three years, Shelbourne´s experienced team, known for its
track record in evaluating and capitalizing on cycles in property
markets, has completed in excess of 1.5 million square feet of
construction in Ireland. It currently has a development pipeline in
Dublin in excess of USD 2 billion. Shelbourne is currently pursuing
developments and projects in Ireland, UK, France and Chicago. Garrett
Kelleher, executive chairman of Shelbourne Development Ltd & the
Shelbourne Development Group, Inc. holds significant investment
properties in Europe.