OLYMPIA DEVELOPMENT CORPORATION ANNOUNCES

NEW LOCATION FOR DELTA EDUCATIONAL SYSTEMS, INC.

Virginia Beach, VA (July 31, 2006) – Olympia Development Corporation is pleased to announce that Delta Educational Systems, Inc. will open its headquarters at The Gallery I, a Class A office building in Virginia Beach. Delta is an educational services company that operates for-profit, postsecondary schools serving the growing need for career-oriented education in the new service economy. Delta’s schools offer primarily Associate degrees and diploma programs in fields with high employer demand, including healthcare, information technology and business. Delta will occupy approximately 8,766 square feet of the two-story building; 4,543 square feet remains available for lease.

Located on Cleveland Street, this prime site is easily visible and accessible off the Virginia Beach/Norfolk Expressway. The building’s modern design, convenient access, and dedicated management staff all add up to make this a premier business location.

The Gallery I is the first of two phases for this office park. Phase II will bring another 30,000 square foot building across a beautifully landscaped plaza to be completed in January 2007. The two buildings will mirror each other in appearance, and include the latest technologies for corporate success.

For more information about Delta Education and the many services they have to offer, visit www.deltaed.com.