PRESS RELEASES

Fifty South Sixth Tops Out

9/5/2000

Hines, the international real estate firm, announced that on September 12, the last piece of steel will be erected a top Fifty South Sixth, its newest major office project in Minneapolis. Construction of the 29-story, 690,000-square-foot office tower on the corner of Sixth Street and Nicollet Mall began in June 1999, and is scheduled for completion in July 2001.

"We are pleased that construction of this new addition to downtown Minneapolis is progressing so well," said Hines Senior Construction Manager David Spillman.

"Fifty South Sixth continues to receive a high level of interest from prospective tenants now that they can actually see the building's exterior taking shape," said Project Marketing Manager Bob Pfefferle.

The Chicago office of Skidmore, Owings and Merrill, with Peter Van Vechten as lead architect, designed Fifty South Sixth, incorporating stone, glass and metal elements on the exterior to provide a unique yet classic appearance that will blend well within the context of the City. The office development will offer tenants and visitors a complete array of on-site amenities including: excellent city views, full service restaurants, a New York-style deli, a sundry shop and Minneapolis' first on-site child development center designed into a Class A office project.

Major tenants committed to Fifty South Sixth include: the Minneapolis-based international law firm of Dorsey & Whitney; the internationally-renowned advertising firm of Fallon Worldwide; and Kinderberry Hill Child Development Corporation.

Hines is developing Fifty South Sixth jointly with Lend Lease Real Estate Investments, Inc., on behalf of an institutional investor client. Hines owns and operates more than 4.4 million square feet of office space in Minneapolis including: Pillsbury Center, Wells Fargo Center and U.S. Bank Place. The firm has been active in the Minneapolis market since 1981. Headquartered in Houston, Hines has offices in 67 U.S. cities and 11 foreign countries. Hines is privately owned with international real estate development and management experience in more than 600 properties representing in excess of 190 million square feet. With assets in excess of $9 billion, Hines is one of the largest real estate organizations in the world. Access www.Hines.com for more information.

Lend Lease Real Estate Investments is one of the largest real estate investment managers in the world and a leading U.S. real estate advisor to pension funds. The company has $41 billion in real estate and commercial mortgages under management for institutional and private clients in the U.S. including 123,705 apartment units in its multifamily portfolio. On a worldwide basis the Lend Lease Group is an integrated real estate funds management and services business comprising funds management, project management and construction and property development.