Green Courte Partners, LLC, a Chicago-based private equity investment firm, today announced that one of its affiliates (such affiliate is referred to as “Green Courte Partners”) completed its tender offer for all outstanding shares of American Land Lease, Inc. (NYSE: ANL). Green Courte Partners has accepted all of the shares tendered and not withdrawn at $14.20 per share, net to the seller in cash without interest thereon.

The tender offer expired at 5:00 p.m., New York City time, on Tuesday, February 17, 2009. The depositary for the tender offer has advised Green Courte Partners and ANL that, as of the expiration of the tender offer, a total of 7,442,072 shares of ANL’s common stock were validly tendered and not withdrawn (which includes approximately 232,763 shares subject to guaranteed delivery procedures), representing approximately 93% of ANL’s outstanding common stock. As a result, the “minimum condition” of the tender offer was satisfied. All other conditions of the tender offer have been satisfied or waived. All tendered shares have been accepted for payment in accordance with the terms of the tender offer. Stockholders who validly tendered prior to the expiration of the offer and whose shares were not properly withdrawn will promptly receive the offer price of $14.20 per share, net to the seller in cash without interest.

Pursuant to the terms of the previously announced merger agreement, Green Courte Partners expects to complete its acquisition of 100% of the common stock of ANL by effecting a merger of Green Courte Partners and ANL, subject to the satisfaction or waiver of the conditions of the merger. In the merger, Green Courte Partners will acquire all other shares of outstanding common stock of ANL (other than those as to which holders properly exercise appraisal rights, if any are available) at the same $14.20 per share price, net to the seller in cash without interest thereon, that was paid in the tender offer. ANL intends to call a special meeting of its stockholders to vote on the merger and related matters. As a result of the consummation of the tender offer, Green Courte Partners owns and has the right to vote a sufficient number of outstanding shares such that approval of the merger at the special meeting is assured without the affirmative vote of any other stockholder. Further information about the special meeting will be forthcoming.