LaVay to Head New Finance and Investment Division 

Lawrence J. Hogan, Jr., President and CEO of Hogan Companies, LLC in Annapolis, Maryland, today announced that former Delegate Richard A. LaVay would head the newly created Finance and Investment Division as Vice President and Managing Partner. Availing itself of existing Hogan Companies talents and expertise, the new division will focus on identifying and acquiring performing and non-performing real estate assets. As an integral component of the growing list of the Hogan Companies real estate services, the division's real estate finance group will assist development clients in formulating and implementing requisite fiscal strategies necessary for long term success.

Before joining the Hogan Companies, Richard A. LaVay was Chief Production Officer with Suburban Capital Markets, Inc., while also serving as Director/Administrator of the Salomon Brothers (Now Citigroup)/Suburban/Choice Hotels International, Inc., Construction/Permanent Loan Program.

Mr. LaVay served in the Maryland General Assembly as a Delegate from 1991 to 2003 representing western Montgomery County, Maryland and served as Minority Whip from 1995 to 1996.

As Vice President of Mergers, Acquisitions and Public/Private Partnerships for the Jefferson Consulting Group (1999 to 2000), Mr. LaVay represented clients before the United States Department of Energy and Department of Transportation. He developed strategies for U.S. market entry for the world's largest public/private concession developer as well as several mid-sized European energy producers.

Mr. LaVay was a Principal and Chief Financial Officer for the LaVay Companies from 1978 to 1995. A nationally recognized upscale developer, LaVay Companies developed over 2,000 housing units, creating the State of Maryland's first condominium, and Montgomery County, Maryland's first townhouses.

He holds a BS Degree from Mount Saint Mary's College in Economics, and attended graduate school at the American University, School of Real Estate. From 2005 to 2007, Mr. LaVay attended the United States Naval War College as a Master of Arts candidate in National Security and Strategic Studies.

Mr. LaVay and his wife, Maggie, have five sons and reside in Rockville and Chester, Maryland.

CONTACT:
Judi Wobensmith
Hogan Companies
2661 Riva Road
Annapolis, MD 21401
410.266.5100
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Marc Rose
President, Michael T. Rose Companies