ALCO Management Names Davis New V.P. and Director.

To download high-resolution, print-ready JPEG images, click on the thumbnail image above.

WARNING: these images are

very large (800K+)

Click here for caption

Business Editors

NOTE: Multimedia assets available

A photo is available at URL:

MEMPHIS, Tenn.--(BUSINESS WIRE)--Sept. 24, 2003

ALCO Management, Inc. today named Ronnie Davis, CPM as vice president and director of property management. In his new position Davis will oversee the management of 75 apartment communities located across the Southeast.

A veteran of many years in the affordable housing industry, Davis, joins ALCO from American Housing Foundation in Amarillo, Texas, where he was chief operations officer. He previously was president of The Barron Group in Greenville, South Carolina and director of operations for Sanbury Corporation in Atlanta. Certified as a Certified Property Manager (CPM) by the Institute of Real Estate Management, Davis attended Michigan State University, the Wyatt Institute of Real Estate, and Greenville Technical College. He is a member of the Institute of Real Estate, the National Council of Shopping Centers and the Southeastern Assisted Housing Management Association.

Frank Z. Jemison, Jr., ALCO president and chief executive officer, said, "Ronnie Davis is a proven leader in the field of affordable housing, and his extensive experience enhances our management team. We are delighted to welcome Ronnie to ALCO."

Memphis-based ALCO Properties, Inc. is a privately-held real estate firm specializing in the development, financing and management of conventional and government-assisted apartment communities for more than 25 years. ALCO currently owns and/or manages over 8,000 apartments at 75 locations in nine states throughout the Southeast.

A photo is available at URL:

http://www.businesswire.com/cgi-bin/photo.cgi?pw.092403/bb17