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 2003 calendar year. Results include completed development and new construction as of Dec. 31, 2003.

1. Hines

2800 Post Oak Blvd.
Houston, TX 77056
Phone: (713) 621-8000
Web site: www.hines.com
Gerald D. Hines, Chairman; Jeffrey C. Hines, President; C. Hastings Johnson, EVP/CFO
Total Office Space Developed or Under Construction: 15.5 million sq. ft.

2. Opus Group

10350 Bren Rd. West
Minnetonka, MN 55343
Phone: (952) 656-4444
E-mail: carol.quam@opuscorp.com
Web site: www.opuscorp.com
Keith Bednarowski, Chairman, Opus Corp.; Mark Rauenhorst, President/CEO, Opus Corp.; Ron Schiferl, EVP/CFO
Total Office Space Developed or Under Construction: 6.9 million sq. ft.

3. Brookfield Properties Corp.

165 Broadway, 6th Floor
New York, NY 10006
Phone: (212) 417-7000
E-mail: mcoley@brookfieldproperties.com
Web site: www.brookfieldproperties.com
Richard Clark, President/CEO; Dennis Friedrich, President/COO, U.S. Operations; Tom Farley, President/COO, Canadian Operations
Total Office Space Developed or Under Construction: 6.6 million sq. ft.

4. The Alter Group

5500 West Howard St.
Skokie, IL 60077
Phone: (800) 637-4842
E-mail: tag@altergroup.com
Web site: www.altergroup.com
Michael J. Alter, President; Richard Gatto, EVP; Randolph Thomas, EVP
Total Office Space Developed or Under Construction: 4 million sq. ft.

5. CarrAmerica

1850 K St. NW
Washington, DC 20006
Phone: (202) 729-1700
E-mail: karen.widmayer@carramerica.com
Web site: www.carramerica.com
Thomas A. Carr, Chairman/CEO; Philip L. Hawkins, President/COO; Stephen E. Riffee, CFO
Total Office Space Developed or Under Construction: 3.3 million sq. ft.

6. Higgins Development Partners

101 East Erie, Suite 800
Chicago, IL 60611
Phone: (312) 943-4999
Web site: www.higginsdevelopment.com
John W. Higgins, Chairman/CEO; Dietrich A. Knoer, SVP, Chief Investment Officer; Thomas R. Prescott, Regional VP
Total Office Space Developed or Under Construction: 2.8 million sq. ft.

7. Spaulding & Slye Colliers

255 State St.
Boston, MA 01923
Phone: (617) 523-8000
E-mail: Steve_Steinberg@spauldslye.com
Web site: www.spauldingandslye.com
W. David McGarry, President; James B. Karman, Chairman/CEO; Marshall H. Durston III, Chief Investment Officer
Total Office Space Developed or Under Construction: 2.4 million sq. ft.

8. Boston Properties Inc.

111 Huntington Ave.
Boston, MA 02199
Phone: (617) 236-3300
E-mail: investor_relations@bostonproperties.com
Web site: www.bostonproperties.com
Mortimer B. Zuckerman, Chairman of the Board; Edward H. Linde, President/CEO; Robert E. Burk, COO
Total Office Space Developed or Under Construction: 2 million sq. ft.

8. Transwestern Commercial Services

1900 West Loop South, Suite 1300
Houston, TX 77027
Phone: (713) 270-7700
E-mail: mediarelations@transwestern.net
Web site: www.transwestern.net
Robert Duncan, Chairman; Larry P. Heard, CEO; Mark Doran, COO
Total Office Space Developed or Under Construction: 2 million sq. ft.

10. Trammell Crow Co.

2001 Ross Ave., Suite 3400
Dallas, TX 75201
Phone: (214) 863-3000
E-mail: ir@trammellcrow.com
Web site: www.trammellcrow.com
Robert E. Sulentic, Chairman/CEO; Derek R. McClain, CFO
Total Office Space Developed or Under Construction: 1.8 million sq. ft.

11. Liberty Property Trust

65 Valley Stream Pkwy.
Malvern, PA 19460
Phone: (610) 648-1700
Web site: www.libertyproperty.com
William Hankowsky, CEO/President/Chairman; Robert Fenza, COO/EVP; George Alburger, CFO/EVP
Total Office Space Developed or Under Construction: 1.6 million sq. ft.

12. Carter

1275 Peachtree St. NE
Atlanta, GA 30309
Phone: (404) 888-3000
E-mail: ktaylor@carterusa.com
Web site: www.carterusa.com
Bob Peterson, President/CEO; Scott Taylor, EVP/COO
Total Office Space Developed or Under Construction: 1.5 million sq. ft.

12. Lincoln Property Co.

500 N. Akard, Suite 3300
Dallas, TX 75201
Phone: (214) 740-3300
E-mail: leverett@lpsi.com
Web site: www.lincolnproperty.com
Mack Pogue, Chairman; Bill Duvall, President/CEO, Commercial Division; Tim Byrne, President/CEO, Residential Division
Total Office Space Developed or Under Construction: 1.5 million sq. ft.

14. Brandywine Realty Trust

401 Plymouth Rd., Suite 500
Plymouth Meeting, PA 19462
Phone: (610) 325-5600
E-mail: info@brandywinerealty.com
Web site: www.brandywinerealty.com
Gerard H. Sweeney, President/CEO; Christopher P. Marr, SVP/CFO; Anthony S. Rimikis, SVP, Development Services
Total Office Space Developed or Under Construction: 1.2 million sq. ft.

15. Duke Realty Corp.

600 E. 96th St., Suite 100
Indianapolis, IN 46240
Phone: (317) 808-6000
E-mail: ir@dukerealty.com
Web site: www.dukerealty.com
Dennis D. Oklak, CEO; Robert Chapman, Sr. EVP/Head of Real Estate Operations; Steve Kennedy, EVP, Duke Construction
Total Office Space Developed or Under Construction: 1.1 million sq. ft.

15. The Gale Co.

100 Campus Dr., Suite 200
Florham Park, NJ 07932
Phone: (973) 301-9500
E-mail: kjandernal@thegalecompany.com
Web site: www.TheGaleCompany.com
Stan Gale, Chairman/CEO; Mark Yeager, President/Chief Investment Officer; Kathy Weilkopolski, Chief Financial Strategy Officer
Total Office Space Developed or Under Construction: 1.1 million sq. ft.

17. Vornado Realty Trust

888 7th Ave.
New York, NY 10019
Phone: (212) 894-7000
E-mail: information@vno.com
Web site: www.vno.com
Steven Roth, Chairman/CEO; Mike Fascitelli, President; Joseph Macnow, EVP, Finance and Administration/CFO
Total Office Space Developed or Under Construction: 1 million sq. ft.

18. Koll Development Co.

8411 Preston Rd., Suite 700
Dallas, TX 75225
Phone: (214) 696-1700
E-mail: jragusa@kolldevelopment.com
Web site: www.kolldevelopment.com
Steve Van Amburgh, CEO; Tobin Grove, President; Murray Newton, EVP
Total Office Space Developed or Under Construction: 894,000 sq. ft.

19. Patrinely Group LLC

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

20. PM Realty Group LP

910 Travis St., Suite 1000
Houston, TX 77002
Phone: (713) 209-5800
E-mail: jgunn@pmrealtygroup.com
Web site: www.pmrealtygroup.com
Rick V. Kirk, President/CEO; James C. Gunn, EVP; J. Ernest Johnson, EVP
Total Office Space Developed or Under Construction: 632,000 sq. ft.

21. Legacy Partners

4000 E. Third Ave., Suite 600
Foster City, CA 94404
Phone: (650) 571-2200
Web site: www.legacypartners.com
Preston Butcher, CEO; Barry DiRaimondo, President, Commercial; W. Dean Henry, President, Residential
Total Office Space Developed or Under Construction: 567,027 sq. ft.

22. Hillwood

5430 LBJ Freeway, Eighth Floor
Dallas, TX 75240
Phone: (972) 201-2800
E-mail: dave.pelletier@hillwood.com
Web site: www.hillwood.com
Ross Perot, Jr., Chairman; Mike Berry, President, Hillwood Properties; Todd Platt, CEO, Hillwood Investments
Total Office Space Developed or Under Construction: 559,200 sq. ft.

23. Cousins Properties Inc.

2500 Windy Ridge Pkwy., Suite 1600
Atlanta, GA 30339
Phone: (770) 955-2200
E-mail: mattgove@cousinsproperties.com
Web site: www.cousinsproperties.com
Thomas D. Bell, Jr., President/CEO; Daniel M. DuPree, Vice Chairman; James A. Fleming, EVP/CFO
Total Office Space Developed or Under Construction: 525,000 sq. ft.

24. Mountain Development Corp.

100 Delawanna Ave., Suite 100
Clifton, NJ 07014
Phone: (973) 279-9000
E-mail: mseeve@mountaindevelopment.com
Web site: www.mountaindevelopment.com
L. Robert Lieb, Chairman; Michael Allen Seeve, President; Michael Donohue, Director of Operations
Total Office Space Developed or Under Construction: 500,000 sq. ft.

25. Panattoni Development Co. LLC

8401 Jackson Rd.
Sacramento, CA 95826
Phone: (916) 381-1561
E-mail: cbrown@panattoni.com
Web site: www.panattoni.com
Carl Panattoni, CEO; Dudley Mitchell, President; Jackie Rieger, COO/CFO
Total Office Space Developed or Under Construction: 498,400 sq. ft.