PM Realty Group
910 Travis, Suite 1000
Houston, Texas 77002

AT PM REALTY GROUP:
Bill Goeke
SVP/Director
Southeast Division
(713) 209-5805

AT THE FINANCIAL RELATIONS BOARD:
Shannon Fesperman
Media Contact
312-640-6766

John Corey
General Information
312-640-6797

FOR IMMEDIATE RELEASE
Feb 11, 1999

PM REALTY GROUP AWARDED MANAGEMENT CONTRACT FOR TWO NEW OFFICE DEVELOPMENTS IN FLORIDA AND TEXAS

HOUSTON - PM Realty Group today announced that it has been awarded the exclusive property management assignment for two new office developments located in the Woodlands, Texas, and Orlando, Florida, by owner Hewitt Holdings, L.L.C. (Hewitt Associates).

The Woodlands development is a multiphase project consisting of five office buildings totaling more than 1,000,000 square-feet. The 77 acre-site, located on Lake Woodlands between Research Forest Drive and Lake Woodlands Drive, will be 100 percent occupied by Hewitt Associates. The first phase of development is scheduled for completion by July 1, 1999.

Located in the Maitland Center office complex, four miles north of downtown Orlando, the Orlando development is a two-building office center comprised of 700,000 square-feet. The development will also be 100 percent occupied by Hewitt Associates. The first phase of the center will be completed August 1, 1999.

PM Realty GroupÕs management team for both projects will be led by Bill Goeke, senior vice president and director of the Southeast Division. Mike Nelson, vice president of operations for PM Realty GroupÕs Houston Office, and Steve Beverly, vice president of Florida operations, will assist Goeke.

Goeke said that PM Realty Group was selected for this assignment based on the firmÕs track record with Hewitt on other facilities management projects, as well as its depth of personnel and resources in both the Houston and Orlando markets.

"As an owner, Hewitt Holdings, L.L.C. is dedicated to providing a quality business environment for their associates and recognizes the importance of a smooth transition to the buildings. We look forward to providing the highest level of efficiency with a service provider focus," added Goeke.

About PM Realty Group

PM Realty Group is a privately-held real estate service organization with more than 1,300 employees and 20 divisional and regional offices. Based in Houston, Texas, the company traces its roots back to 1954. PM Realty Group today conducts business in nearly every state, providing comprehensive real estate services to institutions, investors, corporations, real estate investment trusts, government agencies and healthcare providers.

PM Realty Group offers clients the full spectrum of real estate services, including property and facility management, leasing and marketing, corporate services, investment services, construction management, asset management and development, engineering services, portfolio administration, disposition and acquisition, consulting and due diligence and healthcare services.

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