DYL GROUP ACQUIRES MAJORITY INTEREST
IN COLONIAL DEVELOPMENT GROUP 

(MIAMI, FL) Oct. 24, 2006 -- DYL Group CEO John Yanopoulos today announced that the company has acquired the majority interest position in Colonial Development Group, one of Florida's most active developers, specializing in luxury residential condominiums, hotels, resorts and mixed-use projects. The landmark acquisition brings DYL's revenues to more than $1 billion.
     Notable projects in DYL's growing portfolio include Infinity at Brickell, the all-loft luxury high-rise in Miami's Brickell financial district and its sister tower, Infinity II Lofts at Brickell, soaring at an impressive 69 floors. Also under the DYL umbrella is the recently completed luxury oceanfront condominium Europa-by-the-sea in Lauderdale-by-the-Sea and the W Fort Lauderdale Hotel and Residences, the first W brand hotel condominium in Florida, presently under construction. 
     Among DYL's current ventures is the wide-scale revitalization of various Coral Gables-area projects, which will bring the company a projected additional $500 million in sales. With multiple other projects planned for development both nationally and internationally, DYL will draw upon its own established core capital funds for expansion, and will enlarge its scope of operations by establishing divisions in acquisitions, project management, real estate sales and finance into its immediate business plan. These key capabilities make DYL a true vertically integrated enterprise that is poised to become the industry leader in full-service real estate development.
     "We are a stronger, more diversified enterprise, and have utilized some of Colonial's best and brightest resources to further build DYL," Yanopoulos notes. "Our principals all have strong track records building exceptionally attractive, functional and highly successful projects that are redefining the skyline and are innovative to the market."
     At DYL's helm are Yanopoulous and Chairman Lawrence A. Duprey, who also serves as the Executive Chairman of CL Financial Limited. As chairman, Mr. Duprey has been the driving force behind CL Financial's impressive growth, now more than $5 billion in total assets. CL Financial is also the holding company for more than 62 companies worldwide. 
     As principal and CEO of Colonial Development, John Yanopoulos was responsible for procuring the company's financing, investment and equity capital. 
     His responsibilities included all aspects of financial analysis including market research and feasibility studies, product placement and costing, performa financial statements, debt evaluation and procurement of capital needs. Yanopoulos began his career as a Certified Public Accountant at an international accounting firm specializing in real estate and possesses degrees in both architecture and accounting. His strong financial background, coupled with his expertise in architecture and design, make Yanopoulos the ideal leader for DYL in shaping its future path.
DYL Group is based in South Florida, with corporate offices in both Miami and Fort Lauderdale. For more information, please call 305-769-3777 or visit www.theDYLgroup.com.