ATR NEWS....

LEADING COMMERCIAL BROKERAGE FIRMS FORGE NATIONAL TENANT REPRESENTATION ALLIANCE
August 1, 2002

Washington, DC (August 1, 2002) - Twenty leading independent commercial real estate brokerage firms from across North America have joined together to form a new international network of tenant advocates, known as The Alliance of Tenant Representatives ("ATR"). ATR's international headquarters are in Washington, DC.

The Alliance of Tenant Representatives ("ATR") is an international alliance of independent commercial real estate brokerage firms. Each office maintains specific geographic and industry specializations and is managed by individuals who serve as owner-operators with a minimum 10 years experience in the commercial real estate industry. None of the member firms represent traditional landlords at any time or for any reason. ATR is without exception an alliance of tenant representatives. For more information on ATR, please visit www.alltenrep.com.

Some notable clients of ATR members include: Dow Chemical, Harvard Drug Group, United HealthCare, Wilson Sonsini, Gray Cary, Dorsey & Whitney, Dykema Gossett, Womble Carlyle, The International Monetary Fund, Bank of New York, Blue Cross Blue Shield, General Electric, AT+T, Merrill Lynch, Morgan Stanley Dean Witter, Smith Barney, IBM, Allergan and Federal Express.

ATR currently has offices in the following cities: Denver, Washington, DC, Chicago, Miami, Atlanta, Boston, Detroit, San Francisco/Silicon Valley, Minneapolis, Omaha, Charlotte, Raleigh, Cincinnati, Pittsburgh, Philadelphia, Memphis, Austin, Dallas, Toronto and Mexico City. The organization is currently evaluating potential candidates in other major North American cities that meet its rigid membership criteria. Most notably, each member firm exclusively represents tenants and users of space in lease and acquisition transactions and commits to refrain from any type of agency relationship whatsoever with traditional building landlords.

While each member firm will remain independently owned, they will consolidate certain administrative functions, cross train employees in various areas of expertise and assemble teams with various functional and geographic expertise to service national and international accounts. According to ATR President Eric Berson, "While there are numerous national brokerage firms and alliances in the commercial real estate industry, there has not existed up until today an organization committed exclusively to tenant representation that brings uncompromised integrity, intelligence, and intensity to bear on behalf of its clients. We believe ATR will set a standard that simply does not currently exist on a national or international basis."