Dallas, TX (January 15, 2008) - Riverstone Residential Group (Riverstone), a subsidiary of Consolidated American Services, Inc. (CAS), has acquired Realty Management, Inc. (RMI) to expand client services with additional regional and local expertise. The acquisition will further broaden the geographical footprint of Riverstone to support the continuing expansion of our clients' businesses.

RMI, headquartered in Las Vegas, Nevada, has been acquired by Riverstone, which is the CAS flagship brand headquartered in Dallas, Texas. The combined entity will be the largest independently owned third party property services company in the United States. Riverstone offers its clients operational efficiencies and integrated products (property insurance, renter's insurance, stream-lined purchasing, energy procurement, utility rebilling, etc.) with rates and features not available through other real estate service companies. Market knowledge, a culture of client service and innovative value propositions are enabling Riverstone clients to enjoy record revenues in excess of $2.5 billion annually.

"We are excited to now have RMI as part of the Riverstone family; they have developed a tremendous brand throughout Nevada, Arizona and Texas and their dedication and commitment to quality service matches well to our own beliefs. This is a great opportunity for our clients to benefit from a leader in markets that complement those in which we have already built our presence," stated Christy Freeland, CEO of Riverstone Residential Group.

"We have always been looking for ways in which to build our business and we have been approached by many other potential partners but until now we never found the right fit that benefited both the business and our clients. Riverstone is unique in terms of their strategy and the high quality manner in which they do business. This is simply the best move for RMI to grow to levels that we have aspired to for many years," explained Dan Shaw, CEO of Realty Management, Inc.

"CAS has brought a needed consolidation to the property services sector, which has been slow to adapt to standardized best practices. With its Riverstone brand, CAS's national footprint and commitment to accounting and operating procedures, CAS is setting the bar in the residential property management sector and is of great benefit to both independent as well as institutional investors" says David Reznick, Chairman of Reznick Group.

RMI currently manages more than 21,000 multi-family units with offices in Nevada, Arizona, and Texas.

CAS is the American property services company founded by UK based Regis Capital Ltd. Since 2005 the company has provided the real estate industry unparalleled services in property management, construction, maintenance, asset management, financial services and insurance services. CAS's forte is developing and executing a broad range of strategies and transactions that create value for its clients.

Riverstone is the nation's largest independently owned pure third party property services firm in the United States. While preserving local expertise, Riverstone's 155,000 multifamily units, 23 divisional offices and 4,300 associates represent in the industry-leading market knowledge across the broadest geographic footprint in the nation.

Additional information is available at: www.casfirst.com and www.riverstoneres.com