Convergent Acquisitions and Development, Inc. Announces Record Performance in 2006

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Convergent Acquisitions and Development, Inc. announced today that it achieved record performance in 2006 with over $23.6M in real estate sales of single family homes.

At the core of our success is the contribution and commitment of our employees. We all believe in the power of real estate to build personal wealth. We see it in action everyday with our customers. It is quite rewarding to see our employees so dedicated to helping others take advantage of the leverage that only real estate can bring.

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Leading real estate vendor and developer, Convergent Acquisitions and Development, Inc. announced today that it achieved record performance in 2006 with over $23.6M in real estate sales of single family homes, making it one of the top real estate vendors and developers in the Southeast. The company ended the year in a solid financial position.

Convergent Acquisitions and Development, Inc. is a vendor and developer of real estate, with a special emphasis on selling to the non-owner occupied market, often called the real estate investor market. Convergent sells attached and detached single-family homes, usually one at a time to each individual, who often rents them, usually to middle class and upper middle class long term tenants. “2006 was a year of impressive performance for Convergent Acquisitions and Development,” said Nicolas Sabardin, President, “Our company continues to grow exponentially and these record sales are attributed to Convergent Acquisitions’ success in identifying emerging real estate growth markets and bringing the best products available to our customers. Convergent’s customers are, by and large, affluent and experienced individuals who buy property around the country in anticipated emerging growth areas.”

Mr. Sabardin added, “At the core of our success is the contribution and commitment of our employees. We all believe in the power of real estate to build personal wealth. We see it in action everyday with our customers. It is quite rewarding to see our employees so dedicated to helping others take advantage of the leverage that only real estate can bring.”

The company’s growth is also attributed to the booming demand for its new construction real estate that offers a strong value proposition, boasting more than 18,000 inquiries in 2006 alone for the company’s real estate products. "We've set a record this year for demand of non-owner occupied real estate," explains Ray Peeples, Vice President of Convergent Acquisitions and Development, Inc. "There is a growing trend among affluent and experienced buyers who purchase properties to diversify their portfolio assets, with a solid long-term buy and hold strategy. Our clients are individuals who understand the fundamentals of a market, placing Convergent Acquisitions on a fast track to growth". Some of Convergent’s signature tenets are well positioned developments, built by renowned local or national builders, purchased for long term appreciation potential due to proximity to major infrastructure change underway as well as lifestyle amenities. Furthermore, all homes feature contemporary interior and exterior architectural style consistent with current buyer preferences.

While some US markets experienced a slump in sales and appreciation in 2006, that was not true in Convergent’s markets. Convergent Acquisitions leveraged its research expertise to offer clients high quality properties in markets poised for growth and appreciation.

About the Company:

Convergent Acquisitions & Development, Inc is a leading vendor and developer of real estate to the non-owner occupied market. Founded around a team of real estate professionals with in-depth knowledge of the market and a wealth of experience, Convergent Acquisitions and Development continues to provide single family homes in emerging markets well suited for income and appreciation potential.

Convergent president Nick Sabardin, BS, MBA, graduated from the prestigious Sorbonne University in Paris, France, before spending several years as a business consultant to some of France’s largest corporations. He completed his education by earning his MBA at San Jose in Silicon Valley, with an emphasis on technology and marketing. He flew as an Airline Transport Pilot for US Airways for five years after graduation, and fell in love with the Charlotte area. He is a long time experienced real estate investor.

Contact: Beth Parton

Convergent Acquisitions & Development, Inc

15800 John J. Delaney Drive, Suite 450

Charlotte, NC 28277

Telephone: 704-837-7123

Fax: 704-341-0207

http://www.convergentacquisitions.com

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