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April 3, 2008 - Boston Capital, the Boston based real estate investment and advisory firm
founded by Jack Manning in 1974, has been recognized by the National Multi Housing Council
(NMHC) as the third largest owner of apartments in the country (click here for complete survey
results). With over 168,000 units across 48 states and the District of Columbia, Boston Capital
is one of only two privately-held companies in the Top 10 of the list. Previously ranked number
four, Boston Capital increased its holdings by over 10,000 apartment units in the past year.

"While we are proud of this accomplishment, we see this growth as a reflection of the positive
results we have achieved by making prudent, quality investments in multifamily properties over
the past 34 years," stated Jack Manning, president, CEO and co-founder of Boston Capital.

About Boston Capital:

Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm
specializing in tax advantaged investments for multifamily housing and equity investment in
market rate apartment communities. As of December 2007, Boston Capital’s holdings included
more than 2,800 multifamily apartment properties in 48 states and the District of Columbia,
constituting more than 168,000 apartments with a development cost in excess of $11.8 billion.
Boston Capital is the third largest owner/investor of apartment properties in the US and the 11th
largest owner of real estate in general.

For more information contact:

David Gasson
Vice President
Director of Corporate Communications
Boston Capital
One Boston Place
Boston, MA 02108-4406
(617) 624-8896