The Top 25 Office Developers survey is based on data provided by participating companies. Developers were asked to record their volume of domestic activity for the 2004 calendar year. Results include completed development and new construction as of Dec. 31, 2004.

1. Hines
   2800 Post Oak Blvd.
   Houston, TX 77056
   Phone: (713) 621-8000
   E-mail: George_lancaster@hines.com
   www.hines.com
   Gerald D. Hines, Chairman
   Jeffrey C. Hines, President
   C. Hastings Johnson, EVP/CFO
   Total Office Space Developed or Under Construction: 11.9 million sq. ft.

2. Carter
   171 17th St., Suite 1200
   Atlanta, GA 30363
   Phone: (404) 888-3000
   E-mail: ktaylor@carterusa.com
   www.carterusa.com
   Bob Peterson, Chairman/CEO
   Scott Taylor, President
   Trent Germano, EVP
   Total Office Space Developed or Under Construction: 6.7 million sq. ft.

3. Lincoln Property Co.
   500 N. Akard, Suite 3300
   Dallas, TX 75201
   Phone: (214) 740-3300
   E-mail: leverett@lpsi.com
   www.lincolnproperty.com
   Mack Pogue, Chairman
   Tim Byrne, President/CEO, Residential Division
   Bill Duvall, President/CEO, Commercial Division
   Total Office Space Developed or Under Construction: 4.5 million sq. ft.

4. The Alter Group
   5500 W. Howard St.
   Skokie, IL 60077
   Phone: (800) 637-4842
   E-mail: info@altergroup.com
   www.altergroup.com
   William A. Alter, Chairman/CEO
   Michael J. Alter, President
   Richard M. Gatto, EVP
   Total Office Space Developed or Under Construction: 4.2 million sq. ft.

5. Brookfield Properties Corp.
   Three World Financial Center
   New York, NY 10281-1021
   Phone: (212) 417-7000
   E-mail: mcoley@brookfieldproperties.com
   www.brookfieldproperties.com
   Ric Clark, President/CEO
   Dennis Friedrich, President/COO, U.S. Commercial Operations
   Craig Laurie, SVP/CFO
   Total Office Space Developed or Under Construction: 4 million sq. ft.

6. Opus Group
   10350 Bren Rd. West
   Minnetonka, MN 55343
   Phone: (952) 656-4444
   www.opuscorp.com
   Keith Bednarowski, Chairman, Opus Corp.
   Mark Rauenhorst, President/CEO, Opus Corp.
   Ron Schiferl, EVP/CFO, Opus Corp.
   Total Office Space Developed or Under Construction: 3.9 million sq. ft.

7. Boston Properties
   111 Huntington Ave.
   Boston, MA 02199
   Phone: (617) 236-3300
   Edward H. Linde, President/CEO
   Robert E. Burke, EVP/COO
   Douglas T. Linde, EVP/CFO
   Total Office Space Developed or Under Construction: 2.7 million sq. ft.

8. CarrAmerica
   1850 K St. N.W., Suite 500
   Washington, DC 20006
   Phone: (202) 729-1700
   E-mail: karen.widmayer@carramerica.com
   www.carramerica.com
   Thomas A. Carr, Chairman/CEO
   Philip L. Hawkins, President/COO
   Stephen E. Riffee, CFO
   Total Office Space Developed or Under Construction: 2.5 million sq. ft.

9. Vornado Realty Trust
   888 7th Ave.
   New York, NY 10019
   Phone: (212) 894-7000
   E-mail: information@vno.com
   www.vno.com
   Steven Roth, Chairman/CEO
   Mike Fascitelli, President
   Joseph Macnow, EVP, Finance & Administration/CFO
   Total Office Space Developed or Under Construction: 2.4 million sq. ft.

10. Higgins Development Partners
    101 E. Erie, Suite 800
    Chicago, IL 60611
    Phone: (312) 943-4999
    E-mail: tprescott@higginsdevelopment.com
    John W. Higgins, Chairman/CEO
    Dietrich Knoer, Chief Investment Officer
    Thomas R. Prescott, SVP
    Total Office Space Developed or Under Construction: 2.3 million sq. ft.

11. Trammell Crow Co.
    2001 Ross Ave., Suite 3400
    Dallas, TX 75201
    Phone: (214) 863-3000
    E-mail: ir@trammellcrow.com
    www.trammellcrow.com
    Robert E. Sulentic, Chairman/President/CEO
    Derek R. McClain, CFO
    Michael J. Lafitte, President, Global Services
    Total Office Space Developed or Under Construction: 2.15 million sq. ft.

12. The Durst Organization Inc.
    1155 Avenue of the Americas, 9th Floor
    New York, NY 10036
    Phone: (212) 789-1155
    www.durst.org
    Douglas Durst, President/CEO
    Jody Durst, EVP
    Thomas Bow, SVP
    Total Office Space Developed or Under Construction: 2.1 million sq. ft.

13. The Gale Co.
    100 Campus Dr., Suite 200
    Florham Park, NJ 07932
    Phone: (973) 301-9500
    www.TheGaleCompany.com
    Stan Gale, Chairman/CEO
    Mark Yeager, President/CIO
    Total Office Space Developed or Under Construction: 1.5 million sq. ft.

14. Spaulding & Slye Colliers
    255 State St.
    Boston, MA 02109
    Phone: (617) 531-8000
    E-mail: Steve_Steinberg@spauldslye.com
    www.spauldingandslye.com
    W. David McGarry, President
    Kyle B. Warwick, New England
    Regional Director
    James B. Karman, Chairman/CEO
    Total Office Space Developed or Under Construction: 1.48 million sq. ft.

15. Forest City Enterprises Inc.
    1100 Terminal Tower, 50 Public Square
    Cleveland, OH 44113
    Phone: (216) 621-6060
    www.fceinc.com
    Charles A. Ratner, President/CEO
    Thomas G. Smith, EVP/CFO
    James A. Ratner, EVP
    Total Office Space Developed or Under Construction: 1.43 million sq. ft.

16. USAA Real Estate Co.
    9830 Colonnade Blvd., Suite 600
    San Antonio, TX 78230
    Phone: (210) 498-3222
    E-mail: sharon.ballenger@usaa.com
    www.usaarealco.com
    Edward B. Kelley, President/CEO
    T. Patrick Duncan, SVP, Real Estate Operations
    Glen Sam Mitts, SVP, Senior Financial Officer
    Total Office Space Developed or Under Construction: 1.41 million sq. ft.

17. McShane Corp.
    9550 W. Higgins Rd., Suite 200
    Rosemont, IL 60018
    Phone: (847) 292-4300
    E-mail: info@mcshane.com
    www.mcshanecorp.com
    James A. McShane, CEO
    Hunter Barrier, President Mel Meyer, CFO
    Total Office Space Developed or Under Construction: 1 million sq. ft.

18. Duke Realty Corp.
    600 E. 96th St., Suite 100
    Indianapolis, IN 46240
    Phone: (317) 808-6000
    E-mail: ir@dukerealty.com
    www.dukerealty.com
    Dennis D. Oklak, Chairman/CEO
    Matthew A. Cohoat, EVP/CFO
    Robert M. Chapman, SEVP/Head of Real Estate Operations
    Total Office Space Developed or Under Construction: 915,943 sq. ft.

19. Liberty Property Trust
    500 Chesterfield Pkwy.
    Malvern, PA 19355
    Phone: (610) 648-1700
    E-mail: jleonard@libertyproperty.com
    www.libertyproperty.com
    William P. Hankowsky, CEO
    George J. Alburger, CFO
    Robert E. Fenza, COO
    Total Office Space Developed or Under Construction: 894,000 sq. ft.

20. Brandywine Realty Trust
    401 Plymouth Rd., Suite 500
    Plymouth Meeting, PA 19462
    Phone: (610) 325-5600
    E-mail: Chris.Marr@brandywinerealty.com
    www.brandywinerealty.com
    Gerard H. Sweeney, President/CEO
    Christopher Marr, SVP/CFO
    Brad Molotsky, SVP/General Counsel
    Total Office Space Developed or Under Construction: 884,201 sq. ft.

21. Patrinely Group LLC
    1980 Post Oak Blvd., Suite 1600
    Houston, TX 77056
    Phone: (713) 840-2700
    E-mail: cmd@patrinely.com
    www.patrinelygroup.com
    C. Dean Patrinely, Managing Principal
    Leonard J. O'Donnell, Principal
    Michael E. Nicholls, Principal
    Total Office Space Developed or Under Construction: 877,000 sq. ft.

22. Holder Properties
    3333 Riverwood Pkwy., Suite 500
    Atlanta, GA 30339
    Phone: (770) 988-3131
    John R. Holder, Chairman/CEO
    Lori B. Pisarcik, CFO
    Clark S. Gore, Vice Chairman
    Total Office Space Developed or Under Construction: 600,000 sq. ft.

23. Catellus Development Corp.
    201 Mission St., Second Floor
    San Francisco, CA 94105
    Phone: (415) 974-4500
    E-mail: margan_mitchell@catellus.com
    www.catellus.com
    Nelson C. Rising, Chairman/CEO
    Ted Antenucci, President, Catellus Commercial Development
    Bill Hosler, SVP/CFO
    Total Office Space Developed or Under Construction: 584,000 sq. ft.

24. Equity Inc.
    100 E. Wilson Bridge Rd., Suite 200
    Worthington, OH 43085
    Phone: (614) 802-2900
    E-mail: jayres@equityrealestate.com
    www.equityrealestate.com
    Steve Wathen, CEO
    Susan Murphy, CFO
    John Brooks, EVP, Real Estate Services
    Total Office Space Developed or Under Construction: 448,473 sq. ft.

25. PM Realty Group LP
    910 Travis St., Suite 1000
    Houston, TX 77002
    Phone: (713) 209-5800
    E-mail: jgunn@pmrealtygroup.com
    www.pmrealtygroup.com
    Rick V. Kirk, CEO
    James C. Gunn, President, Property Services
    W. Roger Gregory, CFO
    Total Office Space Developed or Under Construction: 390,000 sq. ft.