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NEWS RELEASE... NEW HAMPTON INN 434 PROVIDENCE HIGHWAY, NORWOOD, MA

1/3/2006

Norwood Hampton Inn to open June 2006

James J. Karam, President of First Bristol Corp, and Steven R. Bodi, Managing Partner of Old Bayside Partners, LLC today announced the formation of a partnership where together they have acquired the former 155 room Ramada Inn on Route One in Norwood, MA, to be redeveloped into a new 139 room Hampton Inn (a member of the Hilton Hotels brand family, to be managed by Saunders Hotel Group, Ltd

Jim Karam explained that this partnership with Old Bayside combines their extensive track record of real estate development together with the Saunders long-term reputation as top-flight hotel managers enhancing the opportunity for success through the transition of this hotel asset from an outdated and tired product into a new facility with a strong national brand.

The hotel was purchased for $5.7 million dollars. Jim Karam announced that the hotel, which was immediately closed upon purchase, will undergo an eight month $7 million dollar renovation that will include the re-construction of an entire new exterior façade also including new windows, roofing, HVAC, parking lot repaving, and landscaping improvements. The interior will feature a two-story atrium lobby, and all new guest rooms complemented by 32 suites. The hotel will provide free high-speed internet service, a business center, complimentary full breakfast buffet, exercise rooms, a swimming pool and jacuzzi. The hotel is being designed by Group One Architects of Boston, MA.

Jeffrey Saunders, President of Saunders Hotel Group and a managing partner of Old Bayside indicated that the Hampton Inn, Norwood, MA will become a major asset to the Route 1 business corridor including the office parks running along Route 1 from Route 128 South to Foxboro, as well as Gillette Stadium, and Norwood Airport. The property also overlooks the 18-hole golf course of the Norwood Country Club. Saunders stated that “Hampton Inns are the leading provider of upscale limited service hotels in the USA, and we feel very positive about Hampton’s ability to generate significant room night production for us in this excellent location.” Saunders has tapped Camille Brooks as General Manager for the property. Ms. Brooks has over 20 years experience in the hospitality industry. “We are delighted to have someone to oversee this important and sizable investment, who has a proven track record of delivering outstanding guest services.”

The combination of generating this new facility together with reflagging the hotel as a “Hampton Inn”, provides a great asset to the Norwood market. An asset that will benefit from the growth in corporate activity between the very busy route 128 hi-tech beltway and Interstate I-95 along the Route 1 corridor. Karam explained that his development team, including Group One Architects of Boston, and Ryan Construction Company of Foxboro, MA will initiate a fast track process to completion providing an opening in the early summer of 2006.

First Bristol Corporation is a 25-year old Real Estate Development Company who has developed 3 million square feet of commercial developments including hotels, shopping centers, office buildings, and multi-family housing units. This Hampton Inn will be the third hotel developed by First Bristol Corporation in the last 3 years, including 3 Hampton Inn’s in Middletown, RI; Raynham, MA; and Norwood, MA. Furthermore, First Bristol Corporation will soon break ground for a new Marriott Residence Inn within the Newport, RI market group.

Old Bayside Partners has been involved in hotel development, management, and acquisition for many years and is anchored by its operating partner, Saunders Hotel Group, owner/operators of 6 other hotels in New England. Old Bayside seeks to acquire undervalued, hidden opportunities in the hotel market that can deliver above market current returns. Among others, its funds have successfully acquired the Holiday Inn, New London, CT in 2005, and the Marriott Residence Inn, Merrimack, NH in 2004

Contacts: Jim Karam, President, First Bristol Incorporated 508-679-1180