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:
Anne Brownsey
Media Contact
312-640-6705

John Corey
General Information
312-640-6797

FOR IMMEDIATE RELEASE
Apr 6, 1999

PM REALTY GROUP AWARDED MANAGEMENT AND LEASING CONTRACT FOR AUSTIN BUILDING TOTALING 41,785 SQUARE FEET

Austin, TX - PM Realty Group today announced that PHL-OPCO, L.P. has awarded the firm with the exclusive property management and leasing assignment for a 41,785-square-foot flex building in Austin.

Rutland Warehouse is a flex building comprised of 41,785 square feet of space and currently is 100 percent occupied. Located at 2314 Rutland Drive, the building?s major tenants include Factory Builders Stores and Bargain Bonanza.

PM Realty Group?s management and leasing team will be led by Bill Goeke, Senior Vice President/Director of the Southeast Division and Charlotte Liberda, Vice President of Operations and Kim McGregor, Assistant Vice President, will assist Goeke.

According to Goeke, the assignment is part of a larger, national real estate portfolio awarded to PM Realty Group consisting of 28 properties and spanning 3,850,000 square feet of office, retail and industrial space.

"Our primary objective is to strategically position this property in the Austin market and to provide the highest quality service levels while operating the building in the most cost-effective manner possible," said 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.

Back to 2000 and Older News