Milestone Properties, Inc.
150 East Palmetto Park Road - 4th Floor
Boca Raton, FL 33432

                                                          FOR IMMEDIATE RELEASE

Boca   Raton,   Florida,   April  2,   2001  --   Milestone   Properties,   Inc.
(Over-The-Counter  Bulletin  Board:  MPRP)  announced  today  that its  Board of
Directors has approved a definitive merger agreement pursuant to which Milestone
will be  acquired by Concord  Assets  Group,  Inc.  which is owned by Leonard S.
Mandor and Robert A.  Mandor.  Concord  Assets  Group,  Inc.  together  with its
affiliates,  including  Leonard  Mandor  and  Robert  Mandor  (the  "Acquisition
Group"),  beneficially own approximately 68.8% of Milestone's outstanding common
stock. In addition,  Leonard Mandor is Milestone's  Chairman and Chief Executive
Officer and Robert Mandor is Milestone's  President and Chief financial  Officer
and also a  director  of  Milestone.  Under the  merger  agreement  each  public
shareholder,  other than the Acquisition  Group,  will receive in cash $2.65 per
share of common  stock owned and each holder of  Milestone's  Series A Preferred
Stock will receive per share in cash $2.65 multiplied by the number of shares of
common stock into which such holder's  shares of Series A Preferred Stock may be
converted.

Milestone  entered  into the  merger  agreement  following  Board  of  Directors
approval based in part upon the unanimous  recommendation of a special committee
comprised of  non-management  directors of Milestone's  Board of Directors.  The
special committee has received an opinion from Brooks, Houghton, Securities,Inc.
that the price of $2.65 per share is fair from a financial  point of view to the
stockholders other than Leonard Mandor, Robert Mandor and their affiliates.

Notwithstanding  its  recommendation and consistent with the terms of the merger
agreement,  if the  special  committee  concludes  that the  failure  to provide
information to, or engage in discussions with any other parties, interested in a
possible  acquisition of the Company,  would be inconsistent  with its fiduciary
duties  to  Milestone's   stockholders,   the  special   committee  may  provide
information to, and engage in discussions and negotiations  with such interested
parties. Under specified circumstances, Milestone has the right to terminate the
merger  agreement  and to  enter  into an  agreement  with a party  proposing  a
competing  transaction.  The Acquisition Group possesses sufficient voting power
to approve the transaction  contemplated by the merger  agreement and to approve
or disapprove any competing transaction approved by the special committee.

Completion  of the  transaction  is subject  to  customary  closing  conditions,
including stockholder approval.  The transaction is not subject to any financing
contingency.  Milestone  stockholder  approval  will be  solicited by means of a
proxy  statement,  which  will be  mailed  by  Milestone  to  stockholders  upon
completion of the required  Securities and Exchange Commission filing and review
process.



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Milestone  stockholders  are advised to read the proxy  statement  regarding the
merger when it becomes available because it will contain important  information.
Milestone stockholders will be able to obtain a free copy of the proxy statement
(once  available)  and other related  documents  filed by Milestone at the SEC's
website  www.sec.gov.  The proxy statement and the related documents may also be
obtained from Milestone,  Inc.,  Milestone  Properties,  Inc., 150 East Palmetto
Park Road - 4th Floor Boca Raton, FL 33432 Attention: Investor Relations.

Milestone, directly and through its wholly owned subsidiaries, is engaged in the
business of owning, acquiring, managing, developing and investing in real estate
and real estate related assets.

This report contains  certain  statements,  including  statements  regarding the
conditions to the merger as well as the approval of the proposed  transaction by
various  parties,  that  are  forward-looking   statements  that  represent  the
expectations or beliefs of Milestone  concerning  future results.  Investors are
cautioned  that  reliance  on  forward-looking  statements  involves  risks  and
uncertainties, and although Milestone believes that the assumptions on which the
forward-looking  statements  contained  herein  are  reasonable,  any  of  those
assumptions could prove to be inaccurate and, as a result,  the  forward-looking
statements based upon those  assumptions also could be incorrect.  Investors are
referred  to the full  discussion  of risks and  uncertainties  associated  with
forward-looking  statements contained in the Milestone Properties,  Inc. filings
with the Securities and Exchange Commission.


FOR MORE INFORMATION, CONTACT:
Karen Renza, Director of Stockholder Services
Milestone Properties, Inc.
Tel: 561 394 9533   Fax: 561 392 8311