National Corporate Tax Credit Fund III (“NCTC III”)

Property	Location	Number of Units
Cedar Ridge	Livingston, LA	42
Claremont Townhomes	Claremont, CA	48
Country Club Woods	Starke, FL	37
Courts of Cicero	Cicero, IL	54
Creole Place	Thibodeaux, LA	48
Estrada/	Carrollton, TX	244
Evangeline Village	Lafayette Parish, LA	72
Fairlawn Green	Topeka, KA	119
Friendship Village	Virginia Beach, VA	109
Hammond Square	Hammond, LA	48
Heritage Village	Blackshear, GA	64
Huntington Hacienda	Los Angeles, CA	117
Las Montanas III	Tucson, AZ	88
Lone Oak	Brandenburg, KY	20
Melody Place	Dallas, TX	192
Midtown Apartments	Mesa, AZ	76
Shawnee Meadows	Seaman, OH	24
Sheridan Plaza	Chicago, IL	140
The Cliffs	Greenville, SC	283
Torries Chase	Olathe, KS	99
University City	Philadelphia, PA	45
Villa Florentina	Bell, CA	13
Willow Glen	Houston, TX	100

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Updated  05/17/2004