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W2007 Grace Acquisition I, Inc. Suspends Second Quarter 2008 Dividends GERMANTOWN, Tenn.--(BUSINESS WIRE)--W2007 Grace Acquisition I, Inc. today announced that it will not declare
a second quarter 2008 dividend with respect to the 8.75% Series B
Cumulative Preferred Stock and 9.00% Series C Cumulative Preferred Stock
in connection with certain covenants contained in the loan documentation
put in place in October 2007. Please refer to the Amended and Restated Charter of W2007 Grace Acquisition I, Inc. for a description of the 8.75% Series B Cumulative Preferred Stock and 9.00% Series C Cumulative Preferred Stock. Contact: W2007 Grace Acquisition I, Inc. Dan Smith, 901-754-7774 Source: W2007 Grace Acquisition I, Inc.
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