OMAHA, NEBRASKA, July 26, 2000 - Castle on the Hill, a historic structure located at 610 13^th Street in Sioux City, Iowa, will be renovated into apartments according to a proposal by NuStyle Development. The renovation plan received preliminary approval when it was presented Wednesday to a group including the Sioux City Chamber of Commerce, City Officials, and representatives of neighborhood groups.

Castle on the Hill Association is it nonprofit organization that has managed and maintained the building for over twenty years. Originally utilized as a school, the building has been vacant since the association took over management. During and after renovation of the building, the Castle on the Hill Association will become a non-profit partner.

NuStyle Corporation's vision is to improve the lives of people by providing high quality living and working environments. Over the past twelve years, through renovations ranging from single-family homes to multi-million dollar apartment buildings, NuStyle has created living space for over 1200 families. NuStyle's projects provided communities with low-income, market rate, and luxury residential units, as well as renewed commercial space. Brother and sister team Tammy Barrett and Todd Heistand own the company.

NuStyle has managed to achieve significant growth while living it's mission. The company's revenues and staff have more than tripled in the last four years alone, placing NuStyle as the second fastest growing company in Omaha in 1999. National recognition of the company's growth was noted when NuStyle was listed as number five of Inc. Magazine's "Inner City 100" earlier this year. Other awards captured by the NuStyle team include Working Woman

Magazine's "Top 500 Women Owned Businesses", and most recently, the Ernst and Young Entrepreneur of the Year Award in the category of Socially Responsible.

The Castle on the Hill project will be NuStyle's first project in the Sioux City area. Built in 1892, it is listed on the National Register of Historic Places. The project is also listed as one of the ten most endangered historic places in the state of Iowa. The proposed renovation will create affordable and market rate apartments from the former classrooms, while maintaining the historical integrity of the auditorium, gymnasium, and hallways. Alley Poyner Architecture will be providing architectural designs service for the project. Construction is tentatively scheduled to begin in July of 2001.

The $8.15 million dollar cost of the protect will be offset by low-income and historical tax credits, and funded in part through investments from the Equity Fund of Nebraska, Inc. After completion of the renovation, the Castle in the Hill Association will retain management of the gymnasium and auditorium facilities, providing a revenue source, for the non-profit organization.