LIBERTY GROUP OF COMPANIES

13577 Feather Sound Drive, Suite 520 Clearwater, Florida 33762 T: 727.866.7999 F: 727.865.5200 www.LibertyG.com

FOR IMMEDIATE RELEASE CONTACT: Kathy Cauwels 727.866.7999 Kathy@LibertyG.com

PUNIT R. SHAH HONORED AS 2011

BUSINESS REVIEW “40 UNDER 40” AWARD WINNER Tampa, Florida: October 7, 2011 - The Gulf Coast Business Review announced today that Punit R. Shah, President & Chief Operating Officer of Tampa-based Liberty Group of Companies, has been recognized in the Business Review’s 2011 "40 Under 40" selections. Each year, the Business Review selects 40 individuals under 40 years old from the Florida Gulf Coast business community. Carefully selected from nominations and original reporting, these individuals represent the best and brightest from Tampa to Naples. “There are a lot of publications that do similar lists each year,” says Kat Hughes, Business Review managing editor. “We wanted our list to stand apart as a group of young professionals who aren’t afraid to take charge and take risks in their business. They are willing to try new things and put their ideas into action. This to us is what it means to be a business leader, and we feel these 40 individuals embody that spirit.” As President and Chief Operating Officer of Tampa-based Liberty Group of Companies, Mr. Shah is responsible for acquisitions, development, and operations of the Company and its affiliated entities. Additionally, he maintains overall managerial control over the investment and hotel management divisions of the Company. About 40 Under 40 The Gulf Coast Business Review is a weekly business newspaper for business leaders from Tampa to Naples, and covers news on companies, trends, entrepreneurs and CEOs. Its editors identify those individuals who represent the next generation of Gulf Coast business leaders as part of its "40 under 40" Award. About the Liberty Group of Companies The Tampa-based Liberty Group of Companies, founded in 1980 by hotelier Raxit N. Shah and led by his son Punit R. Shah, has invested in over $250 million in various real estate investments. As an award-winning hotel management company, Liberty currently owns and manages assisted living facilities and hotels throughout the United States, most of which are affiliated with Hilton and Intercontinental Hotels. For more information, please visit http://www.LibertyG.com