More than 30 years ago, Sunrise Colony Company began developing master-planned, golf-course communities in the Palm Springs, California desert resort area. Today, Sunrise Colony is one of the nation's most respected residential and country club community developers.

Sunrise Colony's record of achievement includes the development of Indian Ridge Country Club, home of the Bob Hope Chrysler Classic, and PGA West, the Western Home of American Golf, which hosted The Skins Game and The Grand Slam of Golf. In addition to its 12 resort communities, the Company has constructed more than 10,000 homes, built two resort hotels and developed numerous office buildings, shopping centers and commercial hotels. Sunrise Colony Company is continually pursuing new opportunities in the country's fastest growing markets.

Sunrise Colony Company is a partnership formed by Sunrise Company and Colony Capital, Inc. to aggressively pursue the acquisition and development of master-planned residential golf communities nationwide. The partnership is seeking opportunities to acquire land for development, existing golf communities, and public and private companies whose assets include significant properties for development. Sunrise Colony Company is focused on serving the needs of today's healthy, active adult population, especially the exploding demographic segment of affluent, leisure-oriented active adults over 50 years of age. The partnership acquires and develops master-planned communities with an emphasis on attracting upscale mature families, "empty nesters," pre-retirees and retirees, as well as established business professionals. Typical community homes range in price from $250,000 to more than $1 million, and offer residents numerous recreational amenities, such as golf courses, swimming pools, tennis courts, and health club facilities.

Colony Capital, Inc., based in Los Angeles, is an international, private investment firm focusing principally on real estate-related assets and operating companies with a strategic dependence on such assets. Colony has been one of America's largest acquirers and financiers of real estate-related assets during the 1990s, having consummated a wide variety of investments with total capitalization exceeding $5 billion. Colony has made investments in a broad array of real estate-intensive operating companies, including hospitality, entertainment, retailing, financing and commercial development.

Sunrise Colony Company's corporate culture, and its adherence to the "Eleven Steps to Success in the Community Development Business", have been major factors in its continued dominance of one of the most competitive resort community markets in the United States. The industry experience and longevity of service of the senior management, who average 15 years with the company, is one of Sunrise Colony Company's most valued assets. "The Prerequisites" are an important component of the Sunrise Colony corporate culture, which has cultivated such an outstanding and loyal team.

William Bone founded Sunrise Company in 1963 and is Chairman of the Board and Chief Executive Officer. A nationally recognized expert in hotel and residential resort/recreation development, Mr. Bone has spoken throughout the country at numerous seminars and before groups interested in residential/country club/resort/recreation and hotel marketing and development. In 1992 Mr. Bone was inducted into the California Building Industry Association Hall of Fame. In 2003, Mr. Bone was presented a Legends Award by the National Association of Home Builders.

The Company is the developer of the following golf course-oriented master-planned communities and resorts:

Sunrise Country Club, Rancho Mirage, CA
Rancho Las Palmas Country Club, Rancho Mirage, CA
Monterey Country Club, Palm Desert, CA
The Lakes Country Club, Palm Desert, CA
Palm Valley Country Club, Palm Desert, CA
PGA West, La Quinta, CA
East Lake Country Club, Chula Vista, CA
Indian Ridge Country Club, Palm Desert, CA
Red Rock Country Club, Las Vegas, NV
Siena, Las Vegas, NV
Royal Oaks Country Club, Houston, TX
Marriott's Rancho Las Palmas Resort, Rancho Mirage, CA
Marriott's Desert Springs Resort and Spa, Palm Desert, CA

The Company has also developed the following residential communities:

Deep Well Ranch, Palm Springs, CA
Sunrise Villas, Palm Springs, CA
Sunrise East, Palm Springs, CA
Sunrise Alejo, Palm Springs, CA
Park Sonora, Palm Springs, CA
Sunrise Villas, San Jose, CA
Sunrise Villas, Las Vegas, NV
Sunrise Villas, Scottsdale, AZ
Benedict Hills, Beverly Hills, CA