July 31, 2007, Panamá City, Panamá: Urban Core International announced today their premiere green building in Panamá, called "Urban Vista," has been featured in the "lo nuevo" section of the July/August issue of espacios, one of the most highly respected real estate, construction, and design magazines in Panamá. Titled "Primer edificio verde de Panamá" ("First Green Building in Panamá"), the article continues,

"Estará en el barrio de Bella Vista. Se basará en los principios del programa LEED del Consejo de Edificios Verdes de Estados Unidos (United States Green Building Council). Cada apartamento permitirá respirar aire puro y reciclar agua. Contarán con acondicionadores de aire, electrodomésticos de alta eficiencia energética y tecnología inteligente: cableado estructurado para internet de alta velocidad, controles de iluminación y home automation."

Urban Vista was carefully designed to provide residents with the latest in sustainable building techniques, smarthome technologies, and to promote a higher quality of life. Each apartment stands alone, a privileged home in the sky. The penthouse, the crown of the building, features two floors of pure luxury. With both interior and exterior social areas, a pool deck, fitness center and large gardens, Urban Vista residents will be the first in Panamá to truly experience the benefits of sustainability, privacy, and a healthier way of life.

About Urban Core:

Urban Core International, S.A. is focused on the development of boutique residential and commercial property in and around Urban Cores. Our mission is two fold; to develop sustainable, quality projects with a focus on strength through design and collaboration, and to provide project owners whom we represent with unparalleled project management services through hard work, collaboration, discipline and attention to detail.

At Urban Core, we believe that a building is more than simply the sum of its parts. It is a well-founded idea, one that has been reviewed from all angles, by all disciplines involved in the project. It is a home, and a part of a larger community that it impacts. Our goal is to make sure our buildings are not only successful projects, but are constructed in a manner that contributes to the community, while meeting the needs of the buildings owners and future occupants. Our work is guided by our values, which enable to ensure a projects success.


http://www.urbancoreintl.com [Web Site]

http://urbancore.wordpress.com [Blog]

Since we launched our redesigned our Urban Core International website last month, people have been asking us about the untraditional darkness of our site. Why go dark? After a lot of research and great advice from some of our colleagues, we found that having a dark background instead of a light one helps reduce precious energy. Basically, what you read through your monitor takes more energy to display websites featured with "light" settings rather than "dark" ones. At Urban Core, we feel that having a "dark" website is in step with our beliefs of energy conservation, both on-line and in our projects.

Visit our site at: http://www.urbancoreintl.com

Panamá City, Panamá; July 25th, 2007: Urban Core International, SA, announced today it has added a "Recommended Reading" section to the Urban Core International blog. The blog is located at urbancore.wordpress.com . This new section highlights important books and texts Urban Core feels will enhance reader's understanding and education of green practices today. Books include The Lazy Environmentalist by Josh Dorfman, Live Earth's Global Warming Surviving Handbook, and The SmartCode V8.0, a guide to urban development and planning by Duany Plater-Zyberk and Company. New books and texts will be updated consistently. Urban Core hopes that by keeping readers informed of up-to-date information, they will be better consumers and live and work greener lives.

Urban Core International, S.A. is focused on the development of boutique residential and commercial property in and around Urban Cores. Our mission is two fold; to develop sustainable, quality projects with a focus on strength through design and collaboration, and to provide project owners whom we represent with unparalleled project management services through hard work, collaboration, discipline and attention to detail.

FOR IMMEDIATE RELEASE

July 12, 2007; Panamá City, Panamá: Urban Core International, SA, announced today the launch of the redesigned Urban Core International website, located at http://www.urbancoreintl.com. Based in Panamá City, Panamá, and with projects throughout Florida, Urban Core International's site brings together all of the company's accomplishments and information in a sleek, streamlined environment. The site contains a "Featured Projects" section, News and Press, interactive blog, and podcast as well as a thorough library and resource guide. A Spanish website is also in development as well.

Urban Core is a premier developer of boutique residential buildings and communities, and continues to be a leader in sustainable development. Among Urban Core's current featured projects include Urban Vista , Panamá City's first LEED-certified residential building. Located in the beautiful Bella Vista neighborhood, Urban Vista features smarthome technology, modern architecture, and luxurious, eco-conscious features as a zen garden deck, green roof, greywater recycling and recycled materials throughout. This is all contained within stunning 360 degree views of Panamá City, the Amador Causeway and lush surrounding countryside.

At Urban Core, we believe that a building is more than simply the sum of its parts. It is a well-founded idea, one that has been reviewed from all angles, by all disciplines involved in a project. It is a home, and a part of a larger community that it impacts. Our goal is to make sure our buildings are not only successful projects, but are constructed in a manner that contributes to the community, while meeting the needs of the building's owners and future occupants. Our work is guided by our values, which enable us to ensure a project's success.

Source: Progressive Investor Print Version
Published: Friday, June 22, 2007

Although much less public than the major media announcements of the world's largest corporations, GE and Wal-Mart, the real estate industry is quietly transforming by embracing sustainable business practices and green technologies.

In an analysis of the industry, Progressive Investor reports that 41% of the 300 U.S. real estate investment trusts (REITs) are actively pursuing energy efficiency and green building upgrades and another 27% plan to do so.

Yet, we found that most social/environmental investors (SRI) aren't aware of even one investment option in the area that meets their criteria -- one of the few asset classes that remains a hole for SRI portfolios.

"That will change over the next few years," predicts Rona Fried, Progressive Investor CEO. "Industry leaders are forming a responsible property trade association, creating criteria for certification, integrating green building into the appraisal process and into broker databases," she says.

Progressive Investor identified the following drivers for the trend:

-- Developers and building owners are feeling the crunch of high energy and water costs, which, according to the Building Owners and Managers Association (BOMA), constitute 28% of operating costs for downtown office properties, and 30.4% for suburban properties. They see the quick payback and cost savings energy efficiency and other green building upgrades offer.

-- Building green no longer costs more. Turner Construction's 2005 Green Building Market Barometer shows it costs a mere 0.8% more for basic LEED certification, easily recouped through lower operating costs.

-- Increasingly, clients and tenants show a preference for green buildings, which have been proven to increase productivity, retain employees and lower absenteeism. The combination of reduced operating costs and more satisfied occupants translates into 3.5% higher occupancy rates, 3% higher rents, and a 7.5% increase in building value, says the McGraw-Hill 2006 SmartMarket Report.

-- Corporations with sustainable business policies are building highly visible green headquarters including Bank of America, Toyota, Goldman Sachs, Hearst, IBM, JPMorgan Chase and Herman Miller. The Freedom Tower, which replaces the World Trade Center, will be LEED-certified.

-- Green building is increasingly being mandated. Nine states and 40+ municipalities have passed legislation mandating LEED-certified buildings.

-- Real estate firms see the writing on the wall and are nervous about holding a portfolio of obsolete, inefficient buildings.

"The benefits will make green ubiquitous over the next two years," says George Caraghiaur, vice president for energy services at Simon Property Group (NYSE: SPG - News), owner of 300 shopping malls. "We're happy to have caught this trend at the beginning."

6% of commercial developments are LEED-certified, projected to jump to 10% of the market by 2010. Buildings produce 21% of the world's CO2 emissions (38% in the US), more than transportation or manufacturing. About 15 million new buildings will be added by 2015. Commercial buildings, the largest polluter, are expected to grow emissions 1.8% a year through 2030.

A recent United Nations study concluded that green buildings can do more to fight global warming than all curbs on greenhouse gases agreed under the Kyoto Protocol, while saving billions of dollars.

Progressive firms are increasingly focused on urban infill buildings rather than suburban greenfields and incorporating advanced energy efficiency measures, as well as recycled building materials, gray water systems, rainwater capture and green roofs, the report says.

We received this post today from ecorazzi.com. Urban Core International received a mention for the amazing response to our new LEED certified building in Bella Vista.

The small but fast-growing country of Panama has been buzzing in recent months over the many celebrities visiting for real estate investment and project inquiries. It all began with none other than the traveling wonders, Brad Pitt and Angelina Jolie. Last December the duo visited the Panama Canal and had a private tour of Frank Gehry's Biodiversity Museum, a highly anticipated project of the ecological history and development of Panama, set to open in 2008. According to spanish-language newspaper "Panama America" (and translated through the Associated Press,) Pitt and Jolie "were considering investing in the $56 million project and buying land in Panama." No adoptions occurred, however.

Next came reports of Mel Gibson making the rounds. According to the Panama Tourism Bureau (headed by actor Rúben Blades), Gibson "suggested his next project should be a remake of the 1950 film noir Panic in the Streets. Gibson was also entertained in the lush rainforest area of Boquete by Panamanian real estate developer and blogger Sam Taliaferro. According to Taliaferro, Gibson "had come on a whirlwind tour to see as much of Panama as possible, looking at real estate investments." He's also apparently terrible at Texas Hold'em.

The name dropping continues in the Pedasi/Azuero Peninsula area of Panama, known for incredible fishing and surfing. Apparently, it has also attracted "the likes of Mick Jagger, Bruce Willis, Tom Cruise, Mel Gibson, Eddie Murphy and others," according to Ocean Legacy, a Panamanian real estate company specializing in the area. "The allure of Pedasi comes from the sheer awe of pristine natural beauty and the simplicity of living in a small fishing village," they continue. Mick Jagger and a small fishing village? Tourism is good for any area, but c'mon, have you seen his yacht?

In the chic neighborhood of Bella Vista in Panama City, green builder Urban Core International is also rumored to have given info to celebrity buyers. Urban Core is planning the first LEED certified sustainable building in Panama. Will celebrities follow suit and be considerate of the delicate balance of man and earth? Or, will they build megahomes and bring insane amounts of paparazzi? We'll be keeping a close eye on this little firecracker of a country!

FOR IMMEDIATE RELEASE
CONTACT: Urban Core International, S.A. 011.507.399.9901, info@urbancoreintl.com

June 12, 2007, Panamá City, Panamá: Urban Core International, S.A. announced today that it has been retained by BASIS International to provide owner's representation and development services for two ocean-front developments in Panamá.

"BASIS has found amazing and unique properties, to which they have a vision to develop in an environmentally sensitive fashion by implementing sustainability and New Urban principles and practices in every aspect of their projects," said Aaron Newman, Managing Partner for Urban Core International. "We are extremely excited to work with BASIS, a company that shares our vision and unwavering dedication to New Urbanism and green building," Newman continued.

"We are looking to the future by investing and developing in socially responsible projects throughout Panamá," said Brian Wagner, CEO of BASIS International. "Our belief is that there is an extremely large market of buyers who would prefer that their next property investment be conscious of social and environmental impacts that will provide significant value to their investment," Wagner continued.

"Urban Core has the experience and resources to assist us in launching sustainable projects, critical to achieve energy efficiency and to lower operational costs," said Jonathan Bernstein, Partner and CFO of BASIS International.

About Urban Core:
Urban Core International, S.A. is focused on the development of boutique residential and commercial property in and around Urban Cores. Our mission is two fold; to develop sustainable, quality projects with a focus on strength through design and collaboration, and to provide project owners whom we represent with unparalleled project management services through hard work, collaboration, discipline and attention to detail.

At Urban Core, we believe that a building is more than simply the sum of its parts. It is a well-founded idea, one that has been reviewed from all angles, by all disciplines involved in the project. It is a home, and a part of a larger community that it impacts. Our goal is to make sure our buildings are not only successful projects, but are constructed in a manner that contributes to the community, while meeting the needs of the buildings owners and future occupants. Our work is guided by our values, which enable to ensure a project's success.

http://www.urbancoreintl.com [Web Site]

http://urbancore.wordpress.com [Blog]

http://podcast.urbancoreintl.com [Podcasts]

About BASIS:
BASIS International brings environmental and social accountability to real estate development. Our mission is to specialize in and offer highly sought-after, profitable investment and property ownership options that leverage the latest "green" technologies to be self-sustainable and to significantly reduce utility costs.

Working with local partners, BASIS brings innovative planning and creativity in designs centering on profit maximization while contributing and distributing benefits widely into local communities — in employment, education, health and business development. This social and profit-driven mandate attracts a broad range of public and private financial partners in a win-win strategy to achieve a unique return on investment (ROI) and social accountability.

Citigroup Inc., the largest US bank, said on Tuesday it plans to commit US$50 billion to environmental projects over the next decade, the biggest commitment from Wall Street to address climate change. The amount includes nearly US$10 billion in activities that the bank has already undertaken. Citigroup plans to increase to US$10 billion from about US$1 billion its commitment to reduce its own greenhouse gas emissions at its 14,500 locations worldwide. The bank operates in more than 100 countries.

"It's a dramatic announcement," said Daniel Esty, a Yale University environmental law professor who co-wrote "Green to Gold: How Smart Companies Use Environmental Strategy to Innovate, Create Value, and Build Competitive Advantage."

"To the extent it signals a sea change in Citigroup's attitude toward the environment, it could have a sweeping impact across economies globally," said Esty.

Citigroup's program comes as US companies such as General Electric Co. and Wal-Mart Stores Inc. look to boost environmental efficiency, amid growing demand for alternative energies and emissions reduction.

Charles Prince, the bank's chief executive, said the program is "not a wish list, but a realistic, achievable plan that serves a critical global need and responds to an emerging investment opportunity." He called for global and US frameworks to reduce greenhouse gas emissions.

Last year, Citigroup's profit totaled US$21.54 billion on revenue of US$89.62 billion.

In March, Bank of America Corp., the second-largest US bank, pledged US$20 billion over 10 years to support environmentally friendly activities and reduce global warming.


TIPPING POINT

Citigroup's markets and banking group plans to invest in and finance more than US$31 billion in clean energy and alternative technology. It said it has nearly US$7.5 billion in commitments.

"It's the right thing to do," said Michael Klein, co-head of markets and banking, in an interview. "Climate change is one of the single biggest drivers of investment decisions and capital expenditures. We are using all of our 100 countries to ... offer the best advice we can based on evolving policy, technology and regulatory standards."

Citigroup said its consumer unit, its biggest business, will also offer climate-friendly mortgage, card and commercial finance products. For example, borrowers may obtain home equity loans to buy and install solar electric systems, the bank said.

The bank said it is upgrading two large office facilities in New York City and Dallas, and building an office tower in Long Island City, New York that will be environmentally friendly.

"We have reached a tipping point in business where the risks of inaction outweigh risks of dealing with a fluid and uncertain regulatory and competitive environment," said Michael Lenox, a business professor at Duke University. "Corporations need to address climate change now."

Bank of America is building environmentally efficient office towers in its Charlotte, North Carolina hometown and just east of New York's Times Square.

Solar Power Set to Shine Brightly

The solar industry is poised for a rapid decline in costs that will make it
a mainstream power option in the next few years, according to a new
assessment by the Worldwatch Institute in Washington, D.C., and the
Prometheus Institute in Cambridge, Massachusetts.

Global production of solar photovoltaic (PV) cells, which turn sunlight
directly into electricity, has risen sixfold since 2000 and grew 41 percent
in 2006 alone. Although grid-connected solar capacity still provides less
than 1 percent of the world's electricity, it increased nearly 50 percent in
2006, to 5,000 megawatts, propelled by booming
markets in Germany and Japan. Spain is likely to join the big leagues in
2007, and the United States soon thereafter.

This growth, while dramatic, has been constrained by a shortage of
manufacturing capacity for purified polysilicon, the same material that goes
into semiconductor chips. But the situation will be reversed in the next two
years as more than a dozen companies in Europe, China, Japan, and the United
States bring on unprecedented levels of production capacity. In 2006, for
the first time, more than half the world's
polysilicon was used to produce solar PV cells. Combined with technology
advances, the increase in polysilicon supply will bring costs down
rapidly‹by more than 40 percent in the next three years, according to
Prometheus estimates.

"Solar energy is the world's most plentiful energy resource, and the
challenge has been tapping it cost-effectively and efficiently," says Janet
Sawin, a senior researcher at Worldwatch, who authored the update. "We are
now seeing two major trends that will accelerate the growth of PV: the
development of advanced technologies, and the emergence of China as a
low-cost producer."

The biggest surprise in 2006 was the dramatic growth in PV production in
China. Last year, China passed the United States, which first developed
modern solar cell technology at Bell Labs in New Jersey in the 1950s, to
become the world's third largest producer of the cells‹trailing only Germany
and Japan.

China's leading PV manufacturer, Suntech Power, climbed from the world's
eighth largest producer in 2005 to fourth in 2006, and PVs have made the
company's CEO one of his nation's wealthiest citizens. Experts believe that
China, with its growing need for energy, large work force, and strong
industrial base, could drive dramatic reductions in PV prices in the next
few years, helping to make solar competitive with conventional power even
without subsidies.

"To say that Chinese PV producers plan to expand production rapidly in the
year ahead would be an understatement," says Travis Bradford, president of
the Prometheus Institute. "They have raised billions from international IPOs
to build capacity and increase scale with the goal of driving down costs.
Four Chinese IPOs are expected to come to market this month alone."

In the meantime, supply shortages have led manufacturers to find ways to use
polysilicon more efficiently, and have accelerated the introduction of new
technologies that do not rely on purified silicon and are inherently less
expensive to manufacture. So-called thin film cells can be made from
amorphous silicon and other low-cost materials, and companies developing
these technologies have recently become the darlings of Silicon Valley
venture capitalists.

Although in the past, thin film cells have not been efficient enough to
compete with conventional cells, today over a dozen companies‹including
Miasole, Nanosolar, and Ovonics‹are competing to scale up production of
low-cost solar modules that can be churned out like rolls of plastic.

"The conventional energy industry will be surprised by how quickly solar PV
becomes mainstream‹cheap enough to provide carbon-free electricity on
rooftops, while also meeting the energy needs of hundreds of millions of
poor people who currently lack electricity," Sawin says.

Global Sustainable Investing - the Next Stage in the Evolution of Socially Responsible Investing

Global Sustainable Investing, represents a higher standard of investing and is based on a carefully-researched universe of companies. These companies have chosen to integrate sustainable business practices into all aspects of their operations. Common sense, as well as recent studies, confirms that companies with strong corporate governance, pervasive environmental policies and collaborative management styles have less risk and perform better over time.

Edgewood Partners has developed a research methodology called ResponseAbility that helps us identify companies that are leaders in integrating sustainable business practices. Our process begins with a qualitative analysis that scrutinizes the overall societal impact of the company and its products. Only about 20% of companies pass this initial screen. We rate the remaining companies on the basis of their compliance with a weighted list of economic, social and environmental criteria. There is a minimum score for inclusion in our universe of sustainable companies. Lastly, companies are subjected to rigorous financial and valuation analysis. When an investment is considered for a client's portfolio, we evaluate it in terms of the client's risk profile and any specific avoidance preferences. We monitor all companies in our sustainable universe on an ongoing basis.

The goal of social investing over the past 25 years has been to create positive change at major companies, primarily through shareholder activism. We applaud the dedicated professionals who are supporting that approach. However, Edgewood Partners has taken a different approach. By investing only in companies that have embraced sustainable business practices, we seek to draw attention to their superior performance and to the fact that sustainable business practices create long-term value for shareholders. We believe there is no better impetus for change than observable success and that sustainable companies will serve as role models for others to emulate.

Over the past five years as we have been developing our investment strategy, we have made some interesting observations. We would like to share what we have discovered with the readers of the Green Money Journal and soon with a broader audience in our forthcoming book - "How Values-Driven Companies Are Beating Out Profit-Driven Companies."

First, we have observed that companies pass through Three Stages of Sustainability:

Stage One companies recognize the desirability of responsible business practices and may investment in "green" technologies. However, they remain strongly profit-driven and avoid taking the steps that would represent a true commitment to sustainable business practices. BP and GE are examples of Stage One companies.

In Stage Two, companies have experienced an epiphany, a new level of awareness - a change of mind. They recognize that sustainable business practices may be costly and time-consuming in the short-run, but also that they are the true basis for creation of shareholder value in the long-run. Some examples of Stage Two companies are Ericsson, Nokia, Whole Foods Markets, Infosys, Starbucks, Respironics, AFLAC, and Southwest Airlines.

In Stage Three, companies recognize their role as global citizens and their responsibility to help solve intractable world problems. From this higher level of awareness, cooperation is seen as superior to competition; collaboration as superior to traditional management, and a values-driven ethic as more powerful than the profit-driven ethic. At this stage, there has been a change of mind and a change of heart. The transition from a strictly profit-driven company to a values-driven company has occurred. Some examples of Stage Three companies are Toyota, Interface, and Herman Miller.

At Edgewood Partners, only Stage Two and Stage Three companies are part of our sustainable universe.

Building a Sustainable Business Model

Creating sustainable business on a global basis requires a paradigm shift. It demands a new way of working, thinking, and being. The mind that created current problems is not the mind that can solve them. The old way of thinking and working is an outmoded hierarchical model based on a profit-driven ethic. The new way of working is a collaborative model based on an evolving values-driven ethic.

According to a Gallup survey, 78% of employees in the U.S. are not engaged in their work. Lack of engagement is actually a world-wide phenomenon and the figures are even higher in the U.K. and some developing countries. It is not hard to imagine that employees would be far more productive and innovative if they were engaged in their work. Clearly, this is a leadership crisis of huge proportion.

At Stage Three and more advanced Stage Two companies, we have observed that employees are very much engaged in their jobs. Quite typically, engagement translates into higher productivity, greater job satisfaction, better customer service and, ultimately, a higher return on investment than is demonstrated at their non-sustainable competition. In every case, the driving force for engagement has been a purposeful leader, who has successfully connected work at these companies with a higher purpose, such as service to mankind through product/service quality, excellence and value.

Shared purpose provides the basis for shared responsibility, ethical behavior and strong corporate governance. Because cooperation is valued over competition, an atmosphere of trust is created that fosters risk-taking and innovation. While a collaborative management style is far more time consuming in the initial stages, the habit of creating ownership and alignment at every stage of a project almost guarantees successful and relatively problem-free implementation.

Not surprisingly, sustainable business practices also reduce several forms of business risk. Pervasive environmental and safety policies reduce the risk of costly remediation, employee endangerment, and fines and legal action by environmental agencies. Strong corporate governance reduces the risk of class action suits, damage to corporate reputation and legal prosecution of errant management.

Again from an investment perspective, our work indicates that sustainable companies as a group have lower risk and provide higher returns over time than traditionally-managed companies. Depending on client objectives and risk-profiles, we seek to further reduce risk and increase return with global diversification and socially-responsible alternative investments. In terms of our company goals to optimize performance and carefully manage risk for our clients, we are very comfortable with our investment strategy.

Our mission as a firm is clearly client-driven. That mission is part of our commitment to a values-driven ethic, which we believe provides the framework and underlying motivation for sustainable business, our own, as well as those in which we invest. By collaborating with others to invest in companies that embrace sustainability principles, we believe we are contributing in several ways to a sustainable world.

For more information contact Edgewood Partners at- http://www.edgewoodpartners.com

Article by Mary Barrett, Managing Partner and Founder of Edgewood Partners