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Ernst & Young Announces L+M Development Partners CEO Ron Moelis Is the Entrepreneur Of The Year(R) 2012 Award Winner in New York

Award Recognizes Entrepreneurial Excellence in Real Estate and Construction Category

NEW YORK, NY -- (Marketwire) -- 06/21/12 -- Ernst & Young LLP has announced that Ron Moelis, CEO of L+M Development Partners (L+M), a leader in developing quality affordable, mixed-income and market rate housing, received the Ernst & Young Entrepreneur Of The Year® 2012 Award in the Real Estate and Construction category in New York. The award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Moelis was selected by an independent panel of judges, and the award was presented at a special gala on June 19, 2012 at the Marriott Marquis.

"It's an honor to receive this influential award, and we appreciate Ernst & Young's recognition of social impact business in the category of Real Estate and Construction," said Ron Moelis, co-founder and CEO of L+M Development Partners. "L+M is a double bottom line firm, where our success is measured not only in financial returns but also by the positive impact we make. This recognition belongs to the nearly 200 L+M employees, each of whom are owners in the company and truly share our mission to make investments in communities most in need of high-quality affordable and mixed-income homes." L+M, which was co-founded in 1984 by Ron Moelis and Sandy Loewentheil, is responsible for more than $2 billion in development and construction and has worked with community, government and investment partners to build over 10,000 units in the tri-state area.

Now in its 26th year, the Ernst & Young Entrepreneur Of The Year Program has honored the inspirational leadership of such entrepreneurs as Jeff Bezos of Amazon.com, Michael Dell of Dell Inc., Herb Kelleher of Southwest Airlines, Fred Smith of FedEx, Larry Page and Sergey Brin of Google, Richard Schulze of Best Buy, Andrew Mason of Groupon, Mindy Grossman of HSN, Inc., Reid Hoffman and Jeff Weiner of LinkedIn, and many more.

As a New York award winner, Moelis is now eligible for consideration for the National Entrepreneur Of The Year 2012 Award. Award winners in several national categories, as well as the National Entrepreneur Of The Year Overall Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 17, 2012. The awards are the culminating event of the Ernst & Young Strategic Growth Forum®, the nation's most prestigious gathering of high-growth, market-leading companies.

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are nationally sponsored in the United States by SAP America and the Ewing Marion Kauffman Foundation.

In New York sponsors include Marsh, HSBC, Scherzer International, Merrill Corporation, SolomonEdwardsGroup, Empire Valuation Consultants, WithumSmith +Brown, Murray Devine, Orrick, Herrington & Sutcliffe, Morgan Lewis & Bockius, DLA Piper and Cooley.

About L+M Development Partners
Since 1984, L+M Development Partners has been an innovator in developing quality affordable, mixed-income and market rate housing, while improving the neighborhoods in which it works. A full-service firm, L+M works from conception to completion, handling development, construction and management with creativity that leads the industry. L+M is responsible for more than $2 billion in development and construction and has created more than 10,000 high-quality units in the tri-state area alone. Community leaders, government officials and investment organizations turn to L+M because of its consistent track record of excellence.

L+M is a double bottom line company, where its success is measured not only in financial returns but also by the positive impact it makes. L+M takes pride in its long-standing dedication to the communities it serves, demonstrated through an annual scholarship fund, job training programs and substantial support for local nonprofits. L+M brings a superior level of commitment to its investments in developments, and equally important, to its investment in people. Additional information can be found at www.lmdevpartners.com.

About Ernst & Young Entrepreneur Of The Year®
Ernst & Young Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.

About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com.

This news release has been issued by Ernst & Young LLP, a US client-serving member firm of Ernst & Young Global Limited.

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Maya Kriet
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