Wednesday, June 25, 2008

D.C.'s First Design for Platinum-Certified Office Building Unveiled


WASHINGTON, DC /PRNewswire-FirstCall/ -- The joint venture of The PNC Financial Services Group, Inc. (NYSE:PNC) and Vornado/Charles E. Smith has unveiled its plan for Washington, D.C.'s first office building designed to achieve U.S. Green Building Council LEED (Leadership in Energy and Environmental Design) Platinum certification. (Above center photo of 800 17th Street/PNC Place)

LEED Platinum reflects the highest level of environmentally sustainable building design recognized by the council.
800 17th Street/PNC Place, a new 365,000 square foot office building, will be built at the corner of 17th & H Streets, NW, just two blocks from the White House.

PNC's regional headquarters and offices will occupy a portion of the building, with approximately 300,000 square feet available for lease.

A PNC branch bank will be located on the retail level."800 17th Street/PNC Place brings to the Washington market a building that combines the highest levels of sustainable design with one of the most strategic and prestigious locations in the city," said Mitchell N. Schear, (middle right photo), president of Vornado/Charles E. Smith, the developer, leasing and management company for the new building.

"This high-performance Gensler-design in the heart of Washington demonstrates PNC's commitment to the Washington region and our ongoing leadership in sustainable design and development," said PNC Bank Regional President Michael N. Harreld. (top left photo)

PNC currently has more LEED-certified buildings than any other company in the world. In London on June 16, the Financial Times and the Urban Land Institute presented PNC with an international award for its green building efforts.
The Sustainable Cities Award recognizes PNC's leadership in environmental sustainability.

"800 17th Street/PNC Place, the first LEED Platinum office development in the District of Columbia, sets a new bar for environmentally responsible, quality development in our city," said Mayor Adrian Fenty (top right photo).

The Mayor has recently led new legislation requiring LEED certification for DC Government buildings.Through the collaboration of Gensler architects and green building consultant Paladino & Company, the building design envisions unique, environmentally focused attributes.

These include the Eco Lobby, featuring a three-story climate wall that radiantly cools the lobby with flowing water. The climate wall parallels a glass walking bridge over the open portion of the concourse below. 800 17th Street/PNC Place will be capped with a green roof to increase energy efficiency and filter storm water.

Completion of the new 12-story building is expected in the 2nd quarter of 2010.

The Vornado/Charles E. Smith team has developed many of Washington's landmark buildings including 2099 Pennsylvania Avenue, The Warner, 1999k, The Investment Building, The Bowen Building, and 2101 L Street. Vornado/Charles E. Smith is a division of Vornado Realty Trust, a fully integrated equity Real Estate Investment Trust (NYSE:VNO).

The PNC Financial Services Group, Inc. (http://www.pnc.com/) is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.

CONTACT:

Patrick McMahon, +1-412-762-2477, or Sonia McCormick,+1-202-835-5486, both of The PNC Financial Services Group, Inc., corporate.communications@pnc.com; or

Mara Olguin of Vornado-Charles E. Smith,+1-703-769-1244, molguin@vno.com


HFF Closes Sale of Class A Downtown Milwaukee Office High-Rise


CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Milwaukee Center (above center photo) , a 373,516-square-foot, Class A office tower in downtown Milwaukee, Wisconsin.

HFF managing directors Jaime Fink (top right photo) and Jeff Bramson (top left photo) and director Daniel Kaufman led the investment sales team on behalf of the seller, Transwestern Investment Company.

HRPT Properties Trust purchased the property.

Located at 111 East Kilbourne Avenue, Milwaukee Center is situated directly across from City Hall in Milwaukee’s central business district.

The 28-story property is part of the larger Milwaukee Center mixed-use development, which also includes a 220-room InterContinental Hotel, The Pabst Theatre, The Milwaukee Repertory Theatre and an 820-stall parking garage, all connected via an enclosed galleria and colonnade.

Milwaukee Center is currently 93% leased to tenants including Marshall & Ilsley Trust Company, Davis & Kuelthau, S.C., Legion Insurance Company and AXA Equitable Life Insurance Company.

Transwestern Investment Company, L.L.C. is a principal investment firm specializing in commercial real estate. Since its inception in 1996, Transwestern has acquired interests in over 440 office, retail, industrial and multifamily properties representing a gross investment of more than $9.8 billion.

HRPT Properties Trust is a real estate investment trust (REIT) that primarily owns and leases office buildings. As of March 31st, it owned $6.3 billion of office and industrial properties with approximately 65 million square feet located in 37 states and Washington, D.C.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.

CONTACTS:

Jaime M. Fink, HFF Managing Director, 312 528 3650, jfink@hfflp.com

Jeffrey M. Bramson, HFF Managing Director, 312 528 3650, jbramson@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Cushman & Wakefield Negotiates Sale of Oak Grove in Biloxi, MS for $22M


TAMPA, FL– Cushman & Wakefield’s Florida Apartment Brokerage Services with apartment specialists in Tampa, Orlando, Ft. Lauderdale and Miami, announce the sale of Oak Grove Apartments (middle right photo) for $22,000,000.

The purchaser was JL Real Ventures. Executive Director Byron Moger (top left photo) and Director Luis Elorza negotiated the sale on behalf of the owner, National Commercial Ventures.

Oak Grove, located in Biloxi, Mississippi at 248 Debuys Road, only six miles from Gulfport-Biloxi International Airport was built in 2000. It is a 274,568 square foot, 244-unit apartment community that offers a mix of 1, 2 and 3 bedrooms. Oak Grove provides its residents a swimming pool with Jacuzzi, fitness center and covered parking.

“JL Real Ventures recognizes the opportunity in this market. They acquired an asset with tremendous upside.” said Byron Moger of Cushman & Wakefield, Inc.


In other separate leasing activity:

Cushman & Wakefield negotiated a new 16,725 square foot lease at Westshore Corporate Center (bottom right photo) with, Maxim Healthcare Services, Inc. Established in 1988 with headquarters located in Columbia, Maryland, Maxim Healthcare Services is one of the fastest growing providers of home health, medical staffing and wellness services in the healthcare industry.

Westshore Corporate Center, located at 600 North Westshore Boulevard in Tampa, Florida, is a 167,537 square foot, 12-story, class “A” suburban office building.

Mercedes Angell, Director; and Jeff Lanning, Associate (Office Brokerage) with Cushman & Wakefield, negotiated the lease on behalf of the landlord, America’s Capital Partners.


Cushman & Wakefield Negotiates Expansion of 8,930 SF at Independence Center

TAMPA , FL – Cushman & Wakefield negotiated the expansion of an additional 8,930 square feet at Independence Center with CIBER, Inc. Founded in 1974 with corporate headquarters located in Greenwood Village, Colorado, CIBER, Inc. is a publicly-traded company that provides information technology solutions for both private and government sector clients.

Independence Center is a 190,987 square foot business park located at the intersection of Independence Parkway and George Road in Tampa, Florida. Mercedes Angell, Director; and Jeff Lanning, Associate (Office Brokerage) with Cushman & Wakefield, negotiated the lease on behalf of the landlord, Denholtz Associates.

************************************************************************
Cushman & Wakefield Negotiates 6,500 SF Lease at First Park at Brandon

RIVERVIEW, FL– Cushman & Wakefield negotiated a new 19,940 square foot lease on behalf of First Industrial and First Park Brandon II (photo at left) for the tenant, SeniorMed LLC. SeniorMed is a nationwide institutional pharmacy that formed recently as a result of a joint venture by Walgreen Co. and Senior Health Partners LLC. They have been servicing assisted living communities for over ten years and will operate at First Park as a service center.

First Park Brandon II is a Class A office and industrial park located in Riverview, Florida.
Bill Reeves, Associate Director (Office Brokerage) with Cushman & Wakefield along with his partners Mercedes Angell, Director; and Jeff Lanning, Associate, negotiated the new lease on behalf of the landlord, First Industrial Realty Trust, Inc.


To view our current multifamily listings, please visit http://www.apartments.cushwake.com/ or

Contact:
Byron Moger, Executive Director, Cushman & Wakefield, Inc. PH: 813.204.5316 byron.moger@cushwake.com

The Trump Organization and Nakheel to Sell Most Expensive Penthouse in Dubai


NEW YORK, NY/PRNewswire/ -- Two of the world's leading developers -- Nakheel and the Trump Organization -- have come together to announce the Trump International Hotel & Tower (top right photo) in Dubai on the Palm Jumeirah, the iconic man-made island in the Arabian Gulf. (bottom right photo)

A grand celebration occurred at Park Avenue Plaza in New York City ... with a red-carpet reception under a 60-foot dome erected for the event.

Donald J. Trump, (top left photo) Melania Trump, Ivanka Trump, Demi Moore, Naomi Watts, Heidi Klum, Al Roker & Deborah Roberts, Thom Filicia, Amy Sacco, Denise Rich, Ann Jones, Jonathan Tisch, Aby Rosen & Samantha Boardman, Marvin Traub, Kelly Bensimon, Dylan Lauren, Eric Villency & Kimberly Guilfoyle, Sante D'Orazio are a few of the many celebrities who were in attendance at the larger-than-life event.

A highlight of the spectacular Trump International Hotel & Tower will be the two expansive penthouse residences designed by one of Architectural Digests Top 100 interior designers, Kelly Hoppen. Hoppen is best known for introducing the "East Meets West" philosophy to interior design, which has remained her signature over the years. The classic Kelly Hoppen look is defined by using straight lines, symmetry and a neutral and subtle color palette to create balance within the home.

CONTACTS:

Miranda Rowe, +1-212-981-5247, Miranda_rowe@dkcnews.com, or

Rachel Harrison, +1-212-981-5278, rachel_harrison@dkcnews.com, both of Dan Klores Communications for Nakheel;

Aaron Richardson, Media Relations Manager of Nakheel, +971-4-368-6946, +971-50-5538201, aaron.richardson@nakheel.com; or

Selma Langer, Vice President of Marketing of The Trump Organization,+1-212-715-7287, slanger@trumporg.comWeb site: http://www.nakheelmediacenter.com/

Tuesday, June 24, 2008

Konover South Announces A&H Photo Lease at its Poinciana Place Shopping Center in Kissimmee, FL


KISSIMMEE, FL – Konover South, LLC, one of the Southeast’s premier retail developers, announced that A&H Photo has signed a lease for 2,972 square feet at its Publix-anchored, 107,138-square-foot Poinciana Place shopping center at US 192 and SR 535 in the Orlando suburb of Kissimmee, FL.

Company leasing specialist Vivian Ricardo represented Konover South in the transactions.


Other major tenants include Blockbuster Video and Smokey Bones Barbeque & Grill, as well as Elite Vacations, Gemstone Properties, Hershey’s Ice Cream, NYPD Pizza and others.

Konover South, LLC, a fully integrated acquisition, development and management company operating throughout the southeastern U.S., is based in Deerfield Beach, FL. Visit the company’s website at http://www.konoversouth.com/.

CONTACT:

Kenneth H. Cristol, President, Cristol Marketing Company, 237 Hunt Club Blvd., Suite 102, Longwood, FL 32779 USA. PH 407-774-2515. FX 407-774-6647. Strategic Marketing, Brand Management, Publicity and Advertising, and Corporate Communications http://www.crismktg.com/

Cousins Announces Retailer Openings at Tiffany Springs MarketCenter


Best Buy and The Home Depot are first to open at 585,000-square-foot center near Kansas City


ATLANTA, GA - - Cousins Properties Incorporated (NYSE:CUZ) has announced a schedule of retailer openings at Tiffany Springs MarketCenter, a 585,000-square-foot power center at the intersection of Interstate 29 and State Highway 152 in Kansas City, Missouri.

The project, Cousins' first in Kansas City, will eventually be home to more than 50 retailers and restaurants. The first retailer to open at the center is Best Buy, which held its grand opening onFriday, June 20.

Over the next two months, more than a dozen additional retailers - including all of the anchors - will open their doors at Tiffany Springs MarketCenter. The center is currently 88 percent committed.

"We are proud of the mix of retailers at Tiffany Springs and know this center will quickly become a great addition to the growing Northland community," said Darryl Bonner, senior vice president of leasing for Cousins Properties.

Following Best Buy's opening, The Home Depot has planned its grand opening for June 26. Other retailers including Target, JCPenney, PetSmart, Ulta, Sports Authority, Chuck E. Cheese and Community American Credit Union have scheduled openings in late July and earlyAugust.

Additional retailers with signed leases at Tiffany Springs MarketCenter include Famous Footwear, Five Guys Burgers, Great Clips,Jason's Deli, Justice, Lifeway Christian Bookstore, Mattress Firm andProfessioNail.

Tiffany Springs MarketCenter is represented locally by Kansas City-based LANE4 Property Group, which provides retail development and brokerage services throughout the Midwest.

CONTACTS:

Investment Community: Mark Russell, Senior Vice President, 404 407 1390. markrussell@cousinsproperties.com

Media: Matt Gove, Senior Vice President, 404 407 1490. mattgove@cousinsproperties.com

Case History of Carlton Cove's Sale by CLW Health Care Services Group


TAMPA, FL--CLW Health Care Services Group recently closed on the sale of Carlton Cove, an Entrance Fee CCRC located in Huntsville, Alabama.

Allen McMurtry, (top right photo) president, CLW Health Care Services Group, says "Although we typically do not feature closed transactions in this context, we thought the process by which this asset was sold would be of interest" to the real estate industry.


PROPERTY HISTORY (PRE-MARKETING):

•Original Bond Issue of $77,080,601 ($304,666 per unit)

•Carlton Cove experienced numerous operational challenges and negative publicity over its history including poor state surveys, physical plant
issues related to the original construction (mold) and a fi re (set by an employee). In addition, there were three management companies and four executive directors since opening.

•The property entered into Chapter 11 Bankruptcy protection in April 2006.

•Prior to CLW’s engagement to sell the asset, numerous buyers expressed interest in the community, but final terms could not be reached with any of these groups.

HIGHLIGHTS:
Opened February 2003
253 Units
47% occupied (IL)
Average Entrance Fee - $232,070
Average Monthly Service Fee - $3,108
Sale Price - $27,250,000 ($107,708 per unit)
Non-profi t seller/Non-profi t buyer

MARKETING RESULTS:

•Registered 30 prospects
•Received six written bids (including the APA and a 10% deposit)
•Five of the six Bidders were deemed Qualifi ed Bidders.

THE AUCTION:

•One bidder was named the Opening Bidder and Stalking Horse Bidder.
•The advantages of receiving Stalking Horse protection included 1) Right to be the opening bid at the Auction, 2) Their APA became the
Auction APA and was bid against, 3) A 2% break-up fee would be paid if they were not the winning bidder at the Auction.
•The Opening Bidder was announced in advance of the Auction. Their marked-up APA was also distributed in advance.
•Competing bids were made in $100,000 increments. The increment could be measured in dollars and/or contract terms (ie. the
elimination of material adverse changes would be assigned a value)
•Each Bidder had 15 minutes between bids to review their strategy and present their counter offer.
•Bidders were only able to decline to make a bid in one round at the Auction. If they passed a second time, they were automatically
withdrawn from the Auction.
•The opening bid was $25,500,000 and the ending (winning) bid was $27,250,000.

OTHER DETAILS:

• Throughout the marketing process the Offi cial Resident Committee was fully involved and informed. They also had open dialogue with
the Bidders and met with 4 of the 6 groups.
• In some cases, Bidders put forth two offers, one with Stalking Horse protection (higher) and one without.
• Since the 10% deposit was non-refundable, all due diligence was performed prior to the bid date.
• CLW coordinated and maintained a due diligence virtual data room with over 8,000 pages of documents available to Bidders.
• The Bidders were required to assume the resident contracts and all Entrance Fee refund obligations.

In late November 2007, CLW was retained, with Bankruptcy Court approval, by the non-profi t sponsor under direction of the Master Trustee and Creditors. Given the long history of false disposition starts and stops, it was critical to sell Carlton Cove as quickly as possible. Timing
and certainty of closing was of critical importance.

CARLTON COVE - SALE OVERVIEW

From start to finish, the timeline below took approximately 3.7 months

--February 7th: Offering Memoranda were distributed to registered Bidders/Buyers.
--April 4th: Bids were due in the form of a marked-up asset purchase agreement (APA) accompanied by a 10%, non-refundable escrow deposit. This deposit was non-refundable
if selected as the winning Bidder.
--April 15th: Auction was held in the offices of seller’s counsel.
--April 17th: Order approving and confirming the sale by the Bankruptcy Court
--May 30th: Closing

CONTACT:
Allen McMurtry, CLW Health Care Services Group, 4301 Anchor Plaza Pkwy., Suite 400 • Tampa, FL 33634 • • 813.349.8349 • http://www. clwhcsg.com
Licensed Real Estate Brokers

60-Acre Harriman Estates in Riverhead, NY Listed for Sale by Marcus & Millichap

RIVERHEAD, NY-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Harriman Estates, a 60-acre lot approved for 86 housing lots in Riverhead on Long Island’s North Shore.

Located in the heart of the island’s bustling wine region, the property’s listing price is $15.9 million.
Steven Siegel, a vice president investments in the Manhattan office of Marcus & Millichap, and Steven Stoehrer, an investment specialist also in the firm’s Manhattan office, are representing the seller.

“This is an excellent opportunity for an investor since the plan has already been approved and a $2.8 million bond is in place,” says Stoehrer.

Located at Main Road in Aqueboque, there are currently two developments that have been built and partially occupied on the property. The first development is The Highlands at Aquebogue, (photo at left) which has 79 lots. The other development is close by and is made up of 60 lots. There are approximately 22 still available.

Press Contact: Stacey Corso
Communications Department
(925) 953-1716

Strategic Solution Partners Creates New Twist on Hospitality Consulting

PHILADELPHIA, PA, June 24, 2008 – Industry veteran Bill Scanlon (top right photo) announced today the launch of Strategic Solution Partners (SSP), a new hotel consultancy that focuses on corporate and property-level sales and marketing.

Strategic Solution Partners includes a team of industry professionals with more than 100 years of global hotel sales and marketing experience for both branded and independent hotels. The company offers programs tailored to specific sales and marketing needs.

The company offers four core services:

--Top-level organizational planning to create long-term revenue generation.

--Sales and marketing analysis as part of hotel acquisition feasibility and development support.

--Interim sales leadership support and planning that combines experienced sales leadership with a collaborative transition plan for the permanent sales leadership to follow.

--Telesales and prospecting services to fill soft occupancy periods, to extend the reach of a hotel’s marketing initiatives, fill a company’s booth during trade shows, or the analysis and scrubbing of accounts to identify active and potential new clients.

“The face of sales and marketing in today’s industry is changing,” said Bill Scanlon, SSP president. “We differentiate our firm from others by creating both short and long term strategic plans for our clients and, when appropriate, retaining the short-term manpower to execute these plans. We believe our services will be especially sought-after as the industry enters a difficult economic period,” he continued.

“Our goal is to not only respond successfully to the immediate challenges of our clients, but also to lay a foundation that will allow hotels to slingshot ahead of their competition as the economy begins to rebound.”

“Strategic Solution Partners facilitated our five-year strategic business planning process, which helped us focus on the critical things we needed to grow our business,” said Tim Brown, (middle right photo) owner of Meeting Sites Resource. “This work has taken our company to new levels of teamwork, managed growth, and leading-edge customer care, which has allowed us to work seamlessly together."

Scanlon, a 22-year hospitality veteran, leads the organization with more than two decades of sales and marketing experience with both Marriott International, Inc., and independent owners and operators.
The company has a team of discipline experts in revenue, catering, and marketing, providing hoteliers and industry partners with valuable, strategic sales and marketing input, guidance and programming.

“From the very beginning, the timing, documentation, outcomes and the partnership were exactly what I expected and received,” said Mike Gamble, (middle left photo) CEO of Searchwide. “Their programs have generated a significant increase in revenues and profitability.”

Based in Philadelphia, Strategic Solutions Partners is a hospitality consulting firm with more than 100 years of hospitality experience in all facets of hotel sales and marketing. For additional information, call 610-724-2946 or visit their Website at http://www.strategicsolutionpartners.com/.

Contacts:

Bill Scanlon, Strategic Solutions Partners, ph: 610-724-2946
bscanlon@strategicsolutionpartners.com

Chris Daly (media), Vice President, Daly Gray Public Relations, ph: 703-435-6293
chris@dalygray.com

Steep Declines in Home Prices Continued in April 2008 According to the S&P/Case-Shiller Home Price Indices

NEW YORK, June 24, 2008 – Data through April 2008, released today by Standard & Poor’s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show annual declines in the prices of existing single family homes across the United States continued to worsen in April 2008, with all 20 MSAs now posting annual declines, 13 of which are posting record low annual declines, and 10 of which are in double-digits.

The chart at left depicts the annual returns of the 10-City Composite and the 20-City Composite Indices. Both composite indices are now reporting annual declines in excess of 15.0%. The 10-City Composite posted a new record low of -16.3%, and the 20-City Composite recorded a record low of -15.3%.

“There might be some regional pockets of improvement, but on an annual basis the overall numbers continue to decline,” says David M. Blitzer, (top right photo) Chairman of the Index Committee at Standard & Poor's. “All 20 MSAs are now showing declines with Charlotte, the last holdout during the 2007/early 2008 period, now reporting an annual decline of 0.1%.

One possible bright side to the annual figures is that three
MSAs – Chicago, Cleveland and Denver – while still negative, showed some improvement in their annual figures over those reported last month.

Looking at the monthly statistics, eight of the 20 metro areas were positive for the April-over-March reading. But for those that reported monthly declines, seven were in excess of 2%. The monthly data also show that 12 of the MSAs have now declined every month since September 2007, marking eight consecutive months.

If there is anywhere to look for possible improvement, it would be that the pace of monthly declines has slowed down for most of the markets.”

Las Vegas and Miami continue to share the dubious distinction of being the weakest markets over the past 12 months returning -26.8% and -26.7%, respectively. These two markets witnessed some of the fastest growth in the 2004/2005 periods, with annual growth rates peaking above +53% and +32%, respectively.

For the month of April, markets that experienced great gains in the recent real estate boom were the biggest decliners. Miami and Phoenix were the worst performers. Each had a negative return in excess of 3%. Charlotte and Dallas are the only two markets to have two consecutive months of positive returns.

The table below summarizes the results for April 2008. The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data. More than 21 years of history for these data series is available, and can be accessed in full by going to http://www.homeprice.standardandpoors.com/.


Additional information and data including history for the indices back to 1987, sales-pair counts showing the number of observations for each month, tiered price indices showing prices for low-, mid- and high-priced homes in 17 of the 20 MSAs and the methodology document describing index calculation can be found at www.homeprice.standardandpoors.com.

The S&P/Case-Shiller Home Price Indices are published on the last Tuesday of each month at 9:00 am ET. They are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided. Each index combines matched price pairs for thousands of individual houses from the available universe of arms-length sales data.

The S&P/Case-Shiller® National U.S. Home Price Index tracks the value of single-family housing within the United States. The index is a composite of single-family home price indices for the nine U.S. Census divisions and is calculated quarterly. The

S&P/Case-Shiller Composite of 10 Home Price Index is a value-weighted average of the 10 original metro area indices. The S&P/Case-Shiller Composite of 20 Home Price Index is a value-weighted average of the 20 metro area indices. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the subject market.

These indices are generated and published under agreements between Standard & Poor’s and Fiserv, Inc. The S&P/Case-Shiller Home Price Indices are produced by Fiserv, Inc.

In addition to the S&P/Case-Shiller Home Price Indices, Fiserv also offers home price index sets covering thousands of zip codes, counties, metro areas, and state markets. The indices, published by Standard & Poor's, represent just a small subset of the broader data available through Fiserv.

About Standard & Poor’s
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data.

With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions.

For more information contact:
David Blitzer, Chairman of the Index Committee Standard & Poor’s 212 438 3907
david_blitzer@standardandpoors.com

David Guarino, Communications, Standard & Poor’s, 1 212 438 1471
dave_guarino@standardandpoors.com

1 Case-Shiller® and Case-Shiller Indexes® are registered trademarks of Fiserv, Inc.