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

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

AT WEBER SHANDWICK:
Kathryn Abney
Media Contact
312-640-6778

Craig Bloomfield
General Information
312-640-6720

FOR IMMEDIATE RELEASE
Nov 6, 2002

PM REALTY GROUP AWARDED PROPERTY SERVICES ASSIGNMENT FOR 305,000-SQUARE-FOOT PORTFOLIO IN HOUSTON

HOUSTON - PM Realty Group, one of the nation’s leading full-service commercial real estate firms, today announced that it has been awarded the exclusive property services assignment for a portfolio of office buildings in Houston totaling 305,000 square feet by The Redstone Companies.

The assignment includes property management and construction management responsibilities for the MedCenter Building and The Redstone Building, and leasing responsibilities for the 2200 Post Oak Building, all located in Houston.

Ken Lund, Vice President of Operations, and Donna Buchanan, Senior Property Manager, lead the property management team for PM Realty Group, under the direction of Bill Goeke, Senior Vice President and Director of the Central Region. Joel Dalak, Vice President of Leasing, leads the leasing team under the direction of Doug Little, Senior Vice President of Leasing.

The portfolio includes:

1. MedCenter Building 6631 S. Main St., Houston, TX (40,000 sq)

2. Redstone Building 109 N. Post Oak Lane, Houston TX (142,400 sq)

3. 2200 Post Oak Building 2200 Post Oak Blvd., Houston, TX (123,375 sq)

"We are pleased to have been selected for this multi-property assignment based on our track record of success in leasing, construction management and property management of office and medical office property," Goeke said.

The MedCenter Building, owned by MCB Holdings Inc., is a multi-tenant medical office building located in the Houston Medical Center. Tenants include Wells Fargo Bank and Texas Children’s Hospital.

The Redstone Building, owned by The Redstone Building, L.P., is a multi-tenant suburban office building adjacent to the prestigious Houstonian Club in the Galleria/West Loop Submarket. Tenants include Redstone Bank, The Friedkin Companies and Falcon Seaboard.

The 2200 Post Oak Building, owned by 2200 Post Oak, L.P., is a multi-tenant suburban office building located in the Galleria/West Loop Submarket. Tenants include Compass Bank and Regency Title.

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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