Moffat Communications Purchases Assets From Strategic Technologies

New York, NY

Waller Capital announced today the sale of certain assets owned by Strategic Technologies, Inc., a wholly owned subsidiary of Lennar Corporation to Moffat Communications. The assets, located in Dade County and West Palm Beach. Waller Capital Corporation represented Strategic Technologies and Lennar in the transaction, which closed in May 2000.

Lennar Corporation, a publicly traded company, is one of the largest home builders in the United States with operations in Florida, California, Texas, Arizona and Nevada. Through its subsidiary, Strategic Technologies, Inc., Lennar provides broadband cable television and home intrusion monitoring services.

Moffat Communications Limited is a TSE 300 company operating in Canada and the United States whose focus is to provide quality information and entertainment services through state-of-the-art broadcast television, cable, Internet and telecommunications technologies. Through its three US cable television subsidiaries, Moffat owns and operates cable systems in Texas and Florida, totaling over 60,000 subscribers.