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

AT PM REALTY GROUP:
Terry Thompson
Vice President
Southern California
949-794-5066

AT WEBER SHANDWICK:
Casey Boggs
Media Contact
310-407-6576

Pam Munoz
General Information
312-988-2047

FOR IMMEDIATE RELEASE
May 10, 2004

PM REALTY GROUP HITS ONE MILLION SQUARE FEET PROPERTY MANAGEMENT MARK IN SOUTHERN CALIFORNIA IN FIRST QUARTER

PM Realty Group awarded Property Management, Construction Management and Leasing Management Assignment by VEF Advisors, LLC for Scripps Corporate Plaza in San Diego

SAN DIEGO, CA - PM Realty Group, one of the nation’s leading full-service commercial real estate firms, today announced it has been selected by VEF Advisors, LLC for property management, construction management and leasing management services for the Scripps Corporate Plaza in San Diego. With this deal, PM Realty Group has been awarded more than one million square feet of property management, construction management and leasing management assignments in Southern California in the first quarter of 2004 alone.

The Scripps Corporate Plaza consists of three office buildings, totaling 242,165 square feet on a 7.6-acre site. The Class-A buildings are located at 10650 to 10680 Treena Street. The buildings are located in the Scripps Ranch submarket of San Diego, just east of the I-15 Freeway and approximately 20 minutes from the San Diego International Airport. The buildings were constructed in 1984 and 1985. Key tenants within the corporate plaza include MedImpact, Learnsoft Consulting, Bechard & Associates and the Logs Group.

“PM Realty Group was chosen for this prestigious assignment for our asset management approach to resolving value-based ownership issues,” said Terry Thompson, Vice President of Southern California Operations, PM Realty Group. “We look forward to offering our extraordinary asset management capabilities to VEF Advisors.”

Cybele L. Thompson, RPA, of PM Realty Group will serve as General Manager, while Kimberley Morgan will serve as Property Manager. Thompson and Morgan will work under the direction of Terry Thompson and Jim Proehl, Senior Vice President and Director of the Western Division for PM Realty Group. John Rowen, Vice President of Engineering with PM Realty Group will manage engineering for the property.

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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