PRESS RELEASES

February 6 2003

Dismissal Saves Roslyn Heights Residents

FOR IMMEDIATE RELEASE

Homeowners in Roslyn Country Club, a community in Roslyn Heights, were relieved after an action brought against them by CCR of Roslyn, Inc. (CCR) was dismissed due to a Memorandum of Law written by Moritt Hock Hamroff & Horowitz LLP (MHH&H). CCR, operator of the country club available to Roslyn Country Club residents, filed bankruptcy in March 2002 and wanted to raise the annual membership dues from $150 to as much as $1,000 per household. They claimed that the dues paid by the 668 families that live in the community did not cover the costs to run the facility, which includes a swimming pool, year-round tennis courts, playground, handball courts, gardens and snack bar. However, when the homes were built by Levitt and Sons Inc. in the 1940’s, they intended to make the country club membership part of the homeownership package in order to attract residents.

In the Motion to Dismiss, MHH&H sited findings previously rendered in favor of the homeowners in the New York State Court of Appeals over 40 years earlier, and argued that the Roslyn Country Club Owner (who leases the club to CCR) was trying to void these 40 year old property easements by using the bankruptcy of CCR and thus circumventing amended judgments made years earlier. Marc Hamroff, Managing Partner at MHH&H, stated that such back door tactics should be seen for what they really are.

In lieu of their loss, CCR may file an appeal or enter into negotiations for a new lease on the country club, which would probably mean no great change in the membership fees.

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