Pilot Equity Partners, LLC reported a 12.5% increase in Net Operating Income (NOI) in Q1 2008 for the Pilot Equity Value Added Fund.

In general, Self Storage Commercial Real Estate is valued by capitalizing the NOI at a rate for a given market. Therefore an increase in NOI generally correlates to an increase in property value.

Troy Downing, General Partner reported, “In a typical value added investment, there are costs involved to create the value shown in our pro forma projections. These involve the cost of lease-up, capital improvements, expansion, eviction of underperforming tenants, clean-up, and various other costs that were invested in the project in order to “create the value”.”

“As such, we generally don’t expect to see a large increase in value until after 24-36 months of operations. In the case of the Pilot Equity Value Added Fund, we were net positive after only 3-4 months of operations.”

From inception to the end of Q1 2008, the Pilot Equity Value Added Fund purchased 5 properties in Tucson, Phoenix, Memphis, Shreveport, and Austin.

In Q1 2008 Pilot Equity Partners grew NOI by 12.5% on an annualized basis. Growth in value of the fund can be estimated by applying the percentage of growth in NOI to the purchase price of the individual projects.

The General Partners are of the opinion that each of the portfolio projects will meet or exceed our pro forma projections that are in the mid-20% range per annum.

“Every one of these projects is stabilizing ahead of projections, and in the case of AMS I Shreveport, we are already planning an expansion of the facility nearly a year ahead of projections due to the rapid lease-up and stabilization of that facility.” states Downing.

The Pilot Equity Value Added Fund is a closed and fully subscribed Private Equity Fund that makes opportunistic and “value-added” investments in Self Storage Real Estate.

About Pilot Equity Partners, LLC.

Pilot Equity Partners Value Added Fund is an EBS Family Private Equity Fund. EBS is a private real estate company specializing in the opportunistic acquisition and management of self-storage commercial property. EBS currently owns and operates nearly 60 Self-Storage properties in 10 states worth more than $250,000,000.00. EBS also manages a family of Private Equity Funds for institutional and high net worth individual investors. EBS funds invest in both stabilized income producing commercial property and value added, opportunistic commercial real estate. The EBS Income Fund, the EBS Income and Growth Fund II, and the Pilot Equity Value Added Fund all closed in 2007 and represent more than $16,000,000.00 in capital contributions. All portfolio properties are aggressively managed by All American Property Management, Inc., to maximize returns. For more information, contact Katie Raden at 619-220-6700.

This Press Release is for informational purposes only and does not, in any way, constitute an offering of securities.