UNITED STATES

ALABAMA

Auburn H. J. PORTER & ASSOCS., INC. 123 N. College, P.O. Box 28 36830 800 893-1156; Fax: 334 826-3827

Birmingham REALTY RESEARCHERS 586 Shades Crest Rd. 35226-1204 205 823-5479; Fax: 205 822-7457

Mobile COURTNEY & MORRIS APPRAISALS Ste. C, 3201 Dauphin St. 36606 334 476-8545

Mount Olive PRITCHETT APPRAISAL CO. 520 Springdale Rd. 35117-9405 205 631-1113; Fax: 205 631-1116

ALASKA

Anchorage FOLLETT & ASSOCS. Ste. 305, 4241 B St. 99503 907 562-4279

ARIZONA

Phoenix REAL ESTATE SCIENCE CORP. Ste.101, 5033 N. 19th Ave. 85015-3203 602 841-8200; Fax: 602 841-0185

Tucson ALFRED M. BENSON CO., INC. 6115 E. Grant Rd. 85712 520 886-2000

KB REAL ESTATE ADVISORS #100, 5995 E. Grant Rd. 85712 520 885-5551; Fax: 520 722-5313

Yuma JESS CLOUD & ASSOCS. Ste. 6, 670 E. 32nd St. 85365 520 726-9393; Fax: 520 726-9393

CALIFORNIA

Anaheim SCHMITZ, RIACH & DONAUE Ste. 540, 2099 S. State College Blvd. 92806 714 634-8070; Fax: 714 634-8173

Auburn CHARLES YARDE & ASSOCS. P.O. Box 4238 95604 916 888-8886; Fax: 916 888-1509

Berkeley BETTS & ASSOCIATES Ste. 300, 1936 University Ave. 94704 510 845-6988 Fax: 510 845-0780

THOMAS E. DUM, MAI 948 Hilldale Ave. 94708 510 526-0356; Fax: 510 526-6561

Camarillo CAMARILLO LAND & INVST. CO. P.O. Box 1107 93011-1107 805 482-2446; Fax: 805 482-9380

DHR ASSOCIATES #301, 2301 E. Daily Dr. 93010 805 484-5599; Fax: 805 482-0669

Carmichael RAMIREZ ROSENTHAL CO. 2051 Gunn Rd. 95608 916 488-6234; Fax: 916 482-3377

Cupertino BACON & ASSOCS. Ste. 7, 10115 Parkwood Dr. 95014 408 257-1851; Fax: 408 257-0917

Dana Point H&H COMPANY 33855 Zarzito Dr. 92629 714 488-0925 Fax: 714 496-2052

California and Arizona certified commercial appraisers providing valuation, consulting and outsourcing services. Thorough and timely analyses at reasonable prices.

Encino FINANCIAL ADVISORS REALTY CO. #400, 16027 Ventura Blvd. 91436 818 784-1874; Fax: 818 788-8879

FLAVELL, TENNENBAUM & EDWARDS Ste. 1510, 15910 Ventura Blvd. 91436 818 382-3050; Fax: 818 382-3059

Fremont SHELLGREN APPRAISAL SERVICES P.O. Box 8278 94537-8278 510 793-2202; Fax: 510 770-1803

Fresno JAMES G. PALMER APPRAISALS, INC. Ste. 108, 1285 W. Shaw Ave. 93711 209 226-5020; Fax: 209 226-5063

Fullerton HILLCREST REALTY ADVISORS Ste. 205,1370 N. Brea Blvd. 92635 714 449-0852; Fax: 714 738-4371

Hemet TIERRA WEST APPRAISAL & LAND USE DYNAMICS, INC. Ste. A, 3292 E. Florida Ave. 92544 909 929-2345; Fax: 909 658-9593

La Canada WILLIAM W. ABELMANN ASSOCS. P.O Box 1035 91012 818 952-1109; Fax: 818 952-1116

W. G. DYESS APPRAISALS 3226 Dora Verdugo Dr. 91208 818 248-9500; Fax: 818 248-2266

Los Angeles ARTHUR ANDERSEN L.L.P. 633 W. Fifth St. 90071 213 614-6500

JOSEPH J. BLAKE AND ASSOCS., INC. David Baldwin, MAI Ste. 2700, 2049 Century Park East 90067 310 277-26U9

CB COMMERCIAL R.E. GROUP 533 Fremont Ave. 90071 213 613-3616 Fax: 213 613-3080

Appraisal offices also located in Atlanta, Chicago, Dallas, Denver, Houston, Las Vegas, Miami, Newport Beach, New York City, Oakland, Orlando, Phoenix, Sacramento, San Diego, San Francisco, San Jose, Seattle, Stamford, Tucson, and Washington, DC.

DELOITTE & TOUCHE REALTY CONSULTING GROUP 1000 Wilshire Blvd. 90017 213 688-5420

(a) LANDAUER ASSOCIATES, INC. First Interstate Tower, Ste. 4950 707 Wilshire Blvd. 90017 213 624-3400 Fax: 213 624-0949

International firm offering real estate valuation, analytical, research, financial and transaction counseling services to banks, corporations, institutions, pension funds, developers, owners, investors and governmental agencies. Landauer's counseling perspective is that of a problem-solver providing effective solutions to real estate problems.

LEA ASSOCS., INC. 1635 Pontius Ave. 90025 310 477-6595; Fax: 310 477-5697

MARSHALL & STEVENS, INC. Ste. 5200, 707 Wilshire Blvd. 90017 800 950-9588; Fax: 213 612-8010

PRICE WATERHOUSE LLP REAL ESTATE ADVISORY SERVICES GROUP Stephen C. Bourcier, MAI 400 S. Hope St. 90071-2889 213 236-3368

Provides real estate valuation, advisory, research and portfolio analysis services to pension funds and institutional investors.

REAL ESTATE ANALYSIS #650, 6381 Hollywood Blvd. 90028 213 460-4777 Fax: 213 460-4333

Consultant for cash flow projections through the following software: ARGUS - DYNALEASE/ DYNAMIS - PRO-JECT - OFFICE2/CENTER.

BENJAMIN TUNNELL INC. #140, 123 S. Figueroa St. 90012 213 625-3994; Fax: 213 625-8282

Marina Del Rey INDIGO REALTY, INC. #215, 4551 Glencoe Ave. 90292 310 823-8448; Fax: 310 823-4212

Newport Beach APPRAISERS WEST Stephen Rich, MAI Ste., 203, 4120 Birch St. 92660 714 476-0707 Fax: 714 752-8404

DIVERSIFIED REALTY APPRAISAL Ste. 130. 1400 Bristol St. N. 92660 714 955-0144; Fax: 714 851-8623

Ontario GOTTFRIED, GAMBLE & ASSOC., INC. #115C, 2151 E. "D" St. 91764 909 983-5983; Fax: 909 986-8909

Palo Alto REITMAN/HECKMAN GROUP Ste. 420, 261 Hamilton Ave. 94301 630 328-2600; Fax: 415 328-3701

Pasadena GUTIERREZ VALUATION Ste. 455,180 S. Lake Ave. 91101-2619 818 796-6112; Fax: 818 796-2368

CHARLES R. WILSON & ASSOCS., INC. Ste. 518, 595 E. Colorado Blvd. 91101 818 792-2107; Fax: 818 792-4180

Petaluma REDWOOD EMPIRE APPRAISAL P.O. Box 2850 94953-2850 707 763-2772; Fax: 707 763-7119

Pleasanton JOYCE L. DIAZ & ASSOC. #170, 7011 Koll Center Pky. 94566 510 462-6364; Fax: 510 462-9794

Sacramento DAVID E. LANE, INC. Ste. 140, 9851 Horn Rd. 95827 916 368-1032; Fax: 916 368-1080

RICHARD SEEVERS & ASSOCS. Ste.100, 700 University Ave. 95825 916 929-3035 Fax: 916 929-0482 E-Mail: rseevers@seevers.com

San Diego DORE & CURRY-R . E. CONSULTANTS #215, 1010 Turquoise St. 92109 800 884-7550 Fax: 619 539-7555

Southwest region appraisal firm (CA, NV, AZ) with extensive experience in master planned communities, commercial, industrial and multi-family. Also market and feasibility studies.

San Francisco CHARLES D. BAILEY & ASSOCS. Ste. 800,115 Sansome St. 94104 415 362-2464; Fax: 415 362-2463

JOSEPH J. BLAKE AND ASSOCS., INC. Brad Paul, MAI Ste. 1480, 44 Montgomery St. 94104 415 989-9060

HOSPITALITY VALUATION SERVICES #620, 116 New Montgomery St. 94105 415 896-0868

MARTORANA-BOHEGIAN & CO. 110 Sutter St. 94104 415 982-4733; Fax: 415 982-0426

San Mateo C.C. MANNA, R.E. APPR. Ste. 206, 2215 S. El Camino Real 94403-1808 415 573-1677

Tustin HIRSCH & ASSOCS. 13461 Diamond Head 92680 714 730-3661; Fax: 714 544-5689

MAWHINNEY & ASSOCS. #106, 17671 Irvine Blvd. 92680 714 731-3993

Van Nuys THE EPSTEIN CO. # 200, 16461 Sherman Way 91406 818 785-5416; Fax: 818 785-5077

FIDELITY APPRAISAL CO. 6949 Halbrent Ave. 91405-3561 818 997-4198; Fax: 818 780-9974

Walnut Creek GOODRICH AD VALOREM SERVICES #250, 1850 Mt. Diablo Blvd. 94596 510 938-2244; Fax: 510 938-2249

COLORADO

Boulder HOSPITALITY VALUATION SVCS.-BOULDER #201, 4730 Walnut St. 80301 303 443-3933; Fax: 303 443-4186

Denver WILLIAM G. BELL, SRPA #110, 1330 Leyden St. 80220-2855 303 388-7702; Fax: 303 388-3103

JOSEPH FARBER & CO., INC. #300, 821 17th St. 80202 303 298-1929; Fax: 303 298-7818

JAMES REAL ESTATE SERVICES, INC. Ste. 300, 90 Madison St. 80206-5412 303 388-8662; Fax: 303 388-8756

CONNECTICUT

New London F. JEROME SILVERSTEIN REALTY Ste. 307, 302 State St. 06320 860 444-7000; Fax: 860 443-4779

Stafford Springs RUMMEL & NORTON 216 Hydeville Rd. 06076-3802 860 684-4535; Fax: 850 684-4535

Stamford MORAN & ASSOCS., INC. 777 Summer St. 06901 203 324-4071; Fax: 203 425-4222

Trumbull APPRAISAL ASSOCS. 93 Canterbury Lane 06611-3003 203 268-6403

DELAWARE

Wilmington JOSEPH N. MELSON, JR., MAI 104 Stone Crop Rd. 19810 302 475-5616; Fax: 302 475-6833

DISTRICT OF COLUMBIA

JOSEPH J. BLAKE AND ASSOCS., INC. Thomas Shields, MAI Canal Square, Ste. 530 1054 31st St., N.W. 20007 202 342-5577

HARPS & HARPS, INC. #720, 1522 K St., N.W. 20005 202 682-2194 Fax: 202 682-1579

(a) LANDAUER ASSOCIATES, INC. Ste. 720, 8133 Leesburg Pike Vienna, VA 22182 703 883-9500 Fax: 703 883-9509

International firm offering real estate valuation, analytical, research, financial and transaction counseling services to banks, corporations, institutions, pension funds, developers, owners, investors and governmental agencies. Landauer's counseling perspective is that of a problem-solver providing effective solutions to realestate problems.

FLORIDA

Boca Raton RER COMMERCIAL REAL ESTATE, LTD. Ste. 410, 2600 N. Military Trail 33431 407 995-9202 Fax: 407 995-9463

Brandon PARRADO APPRAISAL SVC. 1341 Oakfield Dr. 33511 813 681-9226; Fax: 813 681-8680

Fort Lauderdale AMES APPRAISAL SERVICES Ste. 102, 6700 N. Andrews Ave. 33309-2154 305 772-8200

BEAUCHAMP & CO. Ste. 201, 1500 E. Las Olas Blvd. 33301 305 462-0900; Fax: 305 463-1188

CLOBUS McLEMORE & DUKE INC. 2000 E. Oakland Pk. Blvd. 33306-1120 954 566-2511; Fax: 954 566-7346

(a) LANDAUER ASSOCIATES INC. Broward Financial Center, Ste. 1450 500 E. Broward Blvd. 33394 954 764-5403 Fax: 954 764-5406

International firm offering real estate valuation, analytical, research, financial and transaction counseling services to banks, corporations, institutions, pension funds, developers, owners, investors and governmental agencies. Landauer's counseling perspective is that of a problem-solver providing effective solutions to real estate problems.

Jacksonville J.M. HARPER & ASSOCS., INC. 2503 Ronero Rd. 32211 904 743-5300; Fax: 904 743-4219

Miami APPRAISALS AND REAL ESTATE ECONOMICS ASSOCIATES, INC. PM-1, 9400 S. Dadeland Blvd. 33156 305 670-0001 Fax: 305 670-2276

JOSEPH J. BLAKE AND ASSOCS., INC. Ted Allen, MAI Ste. 680, 255 Alhambra Circle 33134 305 448-1663

FRIEDMAN & CO., INC. 2424 S. Dixie Hwy. 33133 305 854-3445; Fax: 305 854-9416

Orlando PARDUE HEID CHURCH SMITH 1403 W. Colonial Dr. 32804 407 841-3602; Fax: 407 841-1543

Port Richey RICHARD M. DORN, ASA, IFAC 6910 El Camino Paloma 34668 813 848-7204; Fax: 813 848-7204

Sarasota GREBER APPRAISAL SERVICES INC. 98 Sarasota Center Blvd. 34240 813 378-1111; Fax: 813 378-4420

South Miami KOENIG & ASSOCS. INC. Ste. 500, 5730 S.W. 74th St. 33143 305 663-6648; Fax: 305 663-1235

GEORGIA

Atlanta ABRAMS REAL ESTATE ADVISORS INC. P.O. Box 76396 30328 404 250-9557; Fax: 404 252-9593

BENTON ADVISORY GROUP, LTD. Bldg. 24, 1640 Powers Ferry Rd. 30067 770 951-2220; Fax: 770 953-3684

BOYD & PARSONS CO. Ste.140, 4 Executive Park East 30329 404 633-0561; Fax: 404 633-0564

CB COMM'L APPRAISAL SVCS. Ste. 550, 100 Galleria Pwy. 30339 770 951-7878; Fax: 770 951-7866

DELOITTE & TOUCHE REALTY CONSULTING GROUP 100 Peachtree St. 30303 404 220-1503

KIRKLAND & CO. Ste. 200,1475 Peachtree St., N.E. 30309 404 892-1011; Fax: 404 892-8650

(a) LANDAUER ASSOCIATES, INC. Ste. 1900, 233 Peachtree St., N.E. 30303 404 659-4040 Fax: 404 659-7012

International firm offering real estate valuation, analytical, research, financial and transaction counseling services to banks, corporations, institutions, pension funds, developers, owners, investors and governmental agencies. Landauer's counseling perspective is that of a problem-solver providing effective solutions to real estate problems.

THE PARSONS COMPANY P.O. Box 95258 30347 404 728-0909 Fax: 404 728-0911 E-Mail: theparsco@aol.com

PRICE WATERHOUSE LLP REAL ESTATE ADVISORY SERVICES GROUP John W. Cherry Jr., MAI, CRE Ste.1700, 50 Hurt Plaza 30303 404 658-8828

Provides real estate valuation, advisory, research and portfolio analysis services to pension funds and institutional investors.

REALTY FINANCIAL GROUP, INC. Ste. 100, 9000 River Run 30350-1760 770 587-2720; Fax: 770 992-2077

RUSSACK-OWENS CO. 1849-D Peeler Rd. 30338 770 393-0377

SOUTHEASTERN CONSULTING GROUP 1841 D Peeler Rd. 30338 770 392-9031; Fax: 770 393-1007

WEIBEL & ASSOCS., INC. 8275 Dunwoody Place 30350 770 594-8770 Fax: 770 594-8978

Snellville PARKS & ASSOCS. 2408 Woodview Ct. 30278-4170 770 972-4036

Valdosta G. ALAN SUTTON, MAI 1305 Melody Lane 31601 912 247-8660; Fax: 912 247-8620

HAWAII

Kaunakakai SWENSON INTERESTS 10 Kamehameha V Hwy. 96748 808 553-3648 Fax: 808 553-3783 E-Mail: swenson@aloha.net

IDAHO

Boise LUTHER I. PASSMORE 5737 Plantation Ln. 83703-2627 208 853-6948

ILLINOIS

Chicago (a) APPRAISAL INSTITUTE Ste. 2400, 875 N. Michigan Ave. 60611-1980 312 335-4100 Fax: 312 335-4400

Call or write for a free directory listing more than 12,000 designated members nationwide. See "Associations" for information about education and publications programs.

APPRAISAL RESEARCH COUNSELORS, LTD. Eugene W. Stunard, MAI, President Ste. 715, 400 E. Randolph St. 60601 312 565-0977 Fax: 312 565-3436

Operational Divisions -- Counseling and Special Studies, Commercial Properties, Industrial Properties, Multi-Family, Residential Projects, and Neighborhood Properties.

JOSEPH J. BLAKE AND ASSOCS., INC. Michael Maglocci, MAI Ste. 1910, 122 S. Michigan Ave. 60603 312 939-1333

DELOITTE & TOUCHE REALTY CONSULTING GROUP 180 N. Stetson Ave. 60601 312 946-2102

DRAPER AND KRAMER, INC. 33 W. Monroe St. 60603-5486 312 346-8600 Fax: 312 346-6059

EDFORS GROUP Ste.18K,1150 N. Lake Shore Dr. 60611 312 266-6338

RICHARD ELLIS INC. Ste. 1750, Three First Nat'l Pl. 60602 312 899-1900 Fax: 312 899-0923

(a) LANDAUER ASSOCIATES, INC. Ste. 1500, 225 W. Washington St. 60606 312 899-0100 Fax: 312 899-0006

International firm offering real estate valuation, analytical, research, financial and transaction counseling services to banks, corporations, institutions, pension funds, developers, owners, investors and governmental agencies. Landauer's counseling perspective is that of a problem-solver providing effective solutions to real estate problems.

MIDLAND APPRAISAL INC. 100 N. La Salle St. 60602 312 782-4412; Fax: 312 782-6169

PRICE WATERHOUSE LLP REAL ESTATE ADVISORY SERVICES GROUP Daniel J. Bajadek, MAI 200 E. Randolph Dr. 60601-7601 312 540-2501

Provides real estate valuation, advisory, research and portfolio analysis services to pension funds and institutional investors.

REAL ESTATE RESEARCH CORP. Ste. 730, 2 N. LaSalle St. 60602 312 346-5885; Fax: 312 364-9825

VALUATION COUNSELORS 300 S. Wacker Dr., 23rd Fl. 60606 312 360-0200; Fax: 312 3613-1113

Oak Brook GREAT REALTY ADVISORS Ste. 300, 3009 35th 60521 708 323-9000; Fax: 708 323-9026

Riverdale THE GORMAN GROUP 407 W. 144th St. 60627 708 849-1830; Fax: 708 849-0020

Saint Charles VALUMASTERS, INC. Ste. 5, 700 S. Randall Rd. 60174-1504 630 377-7725; Fax: 630 377-7809

Springfield KIENZLER, BRIGGS & CO. Ste. 100, 901 S. Second St. 62704 217 789-2991; Fax: 217 789-4091

Wheaton GADD, TIBBLE & ASSOCS., INC. Ste. 200, 417 W. Roosevelt Rd. 60187 708 668-2550

INDIANA

Auburn KRUSE REAL ESTATE 5540-CR-11A, P.O. Box 190 46706 219 925-5401; Fax: 219 927-0717

Fort Wayne RONALD E. GETTEL, MAI 2030 Foxchase Run 46825 219 484-8197; Fax: 219 484-8197

Indianapolis DON R. SCHEIDT & CO.. INC. Ste. 840, 251 E. Ohio St. 46204-2133 317 631-8478; Fax: 317 687-8286

Jasper BERRY KENT FRY, SRA Rm. 107, 216 W. 6th St. 47546-3121 812 634-2992; Fax: 812 482-4624

Kokomo WARD REALTY/PROPERTY 824 W. Sycamore St. 46901-4328 317 457-4545; Fax: 317 452-0360

Lafayette R. E. RESEARCH ASSOCS. P.O. Box 185 47902 317 743-4359; Fax: 317 429-5036

IOWA

Sioux City LEGRAND & CO. 500-6th St. 51101 712 277-1070; Fax: 712 277-1072

KANSAS

Overland Park SHANER APPRAISALS, INC. #100, 10990 Quivira 66210 913 451-1451; Fax: 913 451-1047

Salina WORTH APPRAISAL SERVICE P.O. Box 503 67402-0503 913 825-7472; Fax: 913 827-5847

Westwood FIRST WORKS SOFTWARE SYSTEM 1901 W. 47th Place 66205 913 236-4750; Fax: 913 236-4307

LOUISIANA

Metairie ARGOTE, DERBES, GRAHAM. SHUFFIELD & TATJE, INC. 512 N. Causeway Blvd. 70001 504 833-8234; Fax: 504 830-3870

New Orleans DUPREE, FELTS & YOUNG, INC. Ste. 2103, 200 Carondelet 70130 504 581-6947 Fax: 504 581-6949

MAINE

Gardiner GOSLINE & CO. 1100 Cobbossee Ave.. P.O. Box 247 04345-0247 207 582-1100; Fax: 207 582-2755

Portland BUZZELL ASSOCS. 585 Forest Ave. 04101 207 775-6733; Fax: 207 775-5237

MARYLAND

Annapolis NATIONAL INVST. CONFERENCE Julie S. Whitehead Ste. 201, 705 Melvin Ave. 21401 410 267-0504; Fax: 410 268-4620

PARK APPRAISAL ASSOCS., INC. #217, 2444 Solomons Island Rd. 21401 410 266-5997; Fax: 410 841-6169

Baltimore CERTIFIED APPRAISAL SVC. INC. Frahm Bldg., 2210 N. Charles St. 21218 410 235-1234; Fax: 410 235-3400

Ellicott City R. P. HENDERSON & CO. INC. Unit 3, 10194 Baltimore Nat'l Pike 21042 410 461-2247; Fax: 410 461-2078

Linthicum PRICE WATERHOUSE LLP REAL ESTATE ADVISORY SERVICES GROUP Glenn R. Mueller, PhD. National Director of Real Estate Research Steven P. Laposa Ste. 501,1306 Concourse Dr. 21090 410 850-9270

Provides real estate valuation, advisory, research and portfolio analysis services to pension funds and institutional investors.

Owings Mills GRANT HARDING, APPRIASERS, AUCTIONEERS Box 215 21117 410 833-8780; Fax: 410 833-2794

Silver Spring LIPMAN FRIZZELL & MITCHELL #402, 8607 Second Ave. 20910 301 565-3380; Fax: 301 587-3033

MASSACHUSETTS

Boston JOSEPH J. BLAKE AND ASSOCS., INC. Kevin Quinn, MAI 175 Federal St., 14th Fl. 02110 617 348-3838

KIRK & CO. 265 Franklin St. 02110 617 261-7100 Fax: 617 261-7910 E-Mail: kirk&company@kirkco.com

(a) LANDAUER ASSOCIATES, INC. 1 State St., 6th Fl. 02109 617 720-0515 Fax: 617 720-2426

International firm offering real estate valuation, analytical, research, financial and transaction counseling services to banks, corporations, institutions, pension funds, developers, owners, investors and governmental agencies. Landauer's counseling perspective is that of a problem-solver providing effective solutions to real estate problems.

F. J. McGEE R.E. #737. 294 Washington St. 02108 617 292-7755; Fax: 617 292-7755

WHITTIER PARTNERS/OVA WORLDWIDE 155 Federal St. 02110 617 482-6000 Fax: 617 482-5509

Brookline D.A.B. APPRAISAL SERVICES Ste. 918, 33 Pond Ave. 02146

Hingham C.J.M. SERVICES, INC. 85 Research Rd. 02043 617 566-6966 Fax: 617 734-6001 617 740-8444; Fax: 617 740-0363

Newburyport PROPERTY VALUATION ADVISORS 63 Hill St. 01950 508 462-4347; Fax: 508 465-2708

Peabody TANNERS PPTY. MGT. P.O. Box 486 01960 508 531-0108; Fax: 508 531-7578

MICHIGAN

Ann Arbor R. A. COOCH CO. 320 S. Main St. 48104 313 662-6577; Fax: 313 662-7230

Dearborn BEHR APPRAISAL CO. 2350 Monroe Blvd. 48124 313 277-3500. Fax: 313 278-2949

Grand Rapids LTM, INCORPORATED 3451 Eastern Ave., N.E. 49505 616 364-6622

Saint Clair Shores ROBERT R. SFIRE & ASSOCS., INC. Ste. 103. 23409 Jefferson Ave. 48080 810 776-7260; Fax: 810 776-4550

Troy NAT'L REALTY ADVISORS, INC. Ste. 516, 755 W. Big Beaver Rd. 48084 810 362-0066; Fax: 810 362-4362

West Bloomfield THE BERON CO. 7008 Bridge Way 48322 810 626-9539; Fax: 810 626-9295

MINNESOTA

Minneapolis KGS&D APPRAISALS Ste. 220, 435 Ford Rd. 55426 612 545-9575; Fax: 612 545-1782

MARDELL, AMUNDSON, JOHNSON & LEIRNESS, INC. Ste. 2000, 527 Marquette Ave. 55402-1321 612 339-7700 Fax: 612 339-7937

VALUATION INTERNATIONAL, LTD. 900 Baker Bldg., 706 2nd Ave. S. 55402 800 345-1277; Fax: 612 334-3020

MISSISSIPPI

Hattiesburg THE J. ED TURNER COS. 301 Humble Ave., P.O. Box 15009 39404 601 268-7900; Fax: 601 268-7972

MISSOURI

Kansas City RULE & CO. 2230 Commerce Tower, 911 Main St. 64105 816 421-7853 Fax: 816 421-7862 E-Mail: brockr@ix.netcom.com

Saint Louis DEVELOPMENT STRATEGIES #1640, 10 S. Broadway 63102 314 421-2800 Fax: 314 421-3401

KEITH KRAMER & ASSOCS. #305, 15455 Conway Rd. 63017-2022 314 532-9626 Fax: 314 532-9648 E-Mail: aptapprsr@msn.com

REAL ESTATE ANALYSTS LTD. Ste. 200,10910 Manchester Rd. 63122-1242 314 965-1171; Fax: 314 965-2622

NEBRASKA

Omaha THOMAS E. STEVENS & ASSOC. 1011 S. 78th St. 68114-5410 402 397-2280; Fax: 402 397-2080

NEW JERSEY

Andover CITCO AGENCY, INC. 218 U.S. Hwy. 206 07821-3946 201 691-8250; Fax: 201 347-1194

Chatham RICHARD D TURTELTAUB MAI 205 Main St. 07928 201 635-2190

Cherry Hill TODD AND BLACK, INC. 1209 S. Union Ave. 08002 609 662-7676; Fax: 609 662-0188

Fair Lawn STUART M. ALPART REALTY ASSOCIATES, INC. 33-12 Halsey Rd. 07410-5234 201 791-3232; Fax: 201 791-0408

Flanders PROPERTY RESEARCH ASSOCS., INC. 272 Rte. 206 07836 800 246-3534; Fax: 201 584-6855

Florham Park NATIONAL VALUATION SERVICES, INC. 171 Ridgedale Ave., P.O. Box 190 07932 201 822-2323 Fax: 201 822-1215

Glen Rock RICHARD J. CURRAN, JR., REALTY 175 Rock Rd. 07452 201 652-6700; Fax: 201 652-8403

Haddonfield E. G. ELZEY & SON 65 Ellis St. 08033 609 429-8800; Fax: 609 795-3630

Morris Plains QUANTUS 29 Arlington Ave. 07950 201 538-1936; Fax: 201 538-5701

Morristown KRAUSER, WELSH & CIRZ INC. 161 Madison Ave. 07962 201 538-3188; Fax: 201 538-8741

CRAIG WM. VAGELL & ASSOC., INC. P.O. Box 1032 07962-1032 201 267-6016

Oldwick HEFFERNAN, LEGER & ASSOC. 19 Uptom Pine Rd., P.O. Box 611 08858-0611 908 236-7098; Fax: 908 236-7613

Princeton VALUATION COUNSELORS Princeton Pike Corporate Pk., CN30 08543-0030 609 896-0300; Fax: 609 896-1849

Ridgewood L. W. ELLWOOD & CO. 615 Franklin Tpke. 07450 201 652-2141; Fax: 201 652-9045

JAMES N. MINAYA, MAI 1172 E. Ridgewood Ave. 07450 201 445-6885; Fax: 201 445-2723

Teaneck ATLANTIC APPRAISAL CO. INC #1700, 430 Rutland Ave. 07666-2823 201 837-2410

Tenafly NORMAN G. TEITCHER ASSOCS., INC. 21 S. Lyle Ave. 07670 201 871-1886; Fax: 201 871-0109

Township of Washington CODY & COMPANY INC. 508 Ridgewood Blvd. N. 07675 201 666-1325; Fax: 201 666-1872

Trenton W.S. BORDEN REAL ESTATE 865 Lower Ferry Rd. 08628 609 883-1901; Fax: 609 883-7932

NEW YORK

Brooklyn JACQUES O. TUCHLER & ASSOCS. Ste. 2301, 26 Court St. 11242 718 625-2080; Fax: 718 797-5531

Croton Falls H. EISENBERG - APPRAISALS P.O. Box 692 Croton Falls, NY 10519-0672 914 279-7068; Fax: 914 279-7214

East Patchogue DAVID C. WIMPELBERG, SRA 22 E. Masem Square 11772 516 286-1806

Great Neck SIRMAX ASSOCIATES, INC. 3 Sands Ct. 11023 516 829-6417; Fax: 516 773-0168

Kinderhook EMPIRE STATE APPRAISAL CNSLTS., INC. 16 Hudson St.12106 518 758-7594; Fax: 513 758-1993

Massapequa NETWORK APPRAISAL CO., INC. 5550 Merrick Rd. 11758-6238 516 797-0497; Fax: 516 797-0496

Mineola R. D. GERONIMO LTD. 158 Third St.11501 516 294-8600; Fax: 516 294-8804

GOODMAN-MARKS ASSOCS., INC. 167 Willis Ave.11501-2621 516 248-9777; Fax: 516 248-9628

New York City APPRAISERS & PLANNERS, INC. 9 E. 40th St. 10016 212 683-1122; Fax: 212 213-6120

JOSEPH J. BLAKE AND ASSOCS., INC. Donald M. Blake, Jr., MAI Kevin Leprohon, MAI 10 E. 40th St., 26th Fl. 10016 212 779-0555

COOPERS & LYBRAND L.L.P. 1301 Ave. of the Americas 10019 212 259-2666 Fax: 212 259-2664

CUSHMAN & WAKEFIELD, INC. 51 W. 52nd St. 10019 212 841-7779 Fax: 212 B41-7867

DELOITTE & TOUCHE REALTY CONSULTING GROUP 2 World Financial Center 10281 212 492-4755

KOEPPEL TENER REAL ESTATE SERVICES, INC. 575 Lexington Ave. 10022 212 935-9191 Fax: 212 935-5935

(a) LANDAUER ASSOCIATES, INC. 666 Fifth Ave. 10103 212 621-9500 Fax: 212 621-9567

International firm offering real estate valuation, analytical, research, financial and transaction counseling services to banks, corporations, institutions, pension funds, developers, owners, investors and governmental agencies. Landauer's counseling perspective is that of a problem-solver providing effective solutions to real estate problems.

DANIEL P. LANE & ASSOCS., INC. 60 E. 42nd St. 10165 212 370-5993; Fax: 212 949-8146

PRICE WATERHOUSE LLP REAL ESTATE ADVISORY SERVICES GROUP James R. MacCrate, MAI, CRE 1177 Ave. of the Americas 10036 212 596-7000

Provides real estate valuation, advisory, research and portfolio analysis services to pension funds and institutional investors.

ALFRED SCHIMMEL & ASSOC. Rm. 2318, 250 W. 57th St. 10107 212 489-9553; Fax: 212 765-3124

Port Jefferson PENNY WELLS LaVALLE, R.E. APPRAISER 6 Settlers Path 11777 516 928-1719

Rochester HARVEY B. ROSENBLOOM, ASA Rm. 620,16 E. Main St.14614-1803 716 232-7580; Fax: 716 325-6208

Staten Island ZALOOM REALTY ASSOC. LTD. 1182 Hylan Blvd. 10305 718 816-1998; Fax: 718 816-9186

Woodbury JOSEPH J. BLAKE AND ASSOCS., INC. Donald M. Blake, President 1000 Woodbury Rd., Ste. 21011797 516 364-8080

NORTH CAROLINA

Asheville DAVID MOORE & ASSOC., INC. 49 Clayton St. 28801 704 252-8801; Fax: 704 252-8478

Durham PICKETT/SPROUSE REALTORS P.O. Box 52118 27717 919 493-0395

Gastonia JONES REAL ESTATE SVCS. P.O. Box 1954 28053 704 864-7732; Fax: 704 864-7733

Greensboro WILLIAM L. HERBERT, SRPA 417 N. Edgeworth St. 27401-2107 910 274-5454; Fax: 910 275-4562

JOHN McCRACKEN & ASSOC., INC. 1616-D Battleground Ave. 27408 910 274-5050; Fax: 910 275-9440

MESSICK AND CO., INC. 3719-D W. Market St. 27403 910 855-5524; Fax: 910 855-5526

Wilmington JOHN J. HOOTON CO. 112-A S. Front St. 28401 910 251-0053; Fax: 910 763-9557

OHIO

Dayton APPRAISAL STRATEGISTS, INC. 1344 Woodman Dr. 45432 513 253-3400; Fax: 513 253-3006

Loveland APPRAISAL & VALUATION ASSOCS., INC. 9417 Carriage Run Circle 45140-5516 513 677-3444; Fax: 513 677-3344

Toledo BIGGS APPRAISAL 5200 Cherrington Rd. 43623-2713 419 882-8600; Fax: 419 882-0756

OREGON

Albany NESS APPRAISAL INC. 225 S.W. 3rd Ave. 97321 503 928-1551; Fax: 503 926-0352

Portland KTR INC. 222 S W. Columbia 97201 503 221-4502; Fax: 503 221-3942

Salem CAPITAL VALUATION GROUP, LTD. P.O. Box 2108 97308-2108 503 375-6494; Fax: 503 375-9198

PENNSYLVANIA

Ambridge KARL J. URDA, MAI, IFAC 405 Merchant St. 15003 412 266-1139; Fax: 412 266-8713

Bala Cynwyd ST. JOHN REALTY ASSOC. 29 Bala Ave. 19004 610 667-7520; Fax: 610 667-7817

Berwyn S&S REALTY ASSOC. INC 1189 Lancaster Ave. 19312 610 695-9100

Coudersport CONSTRUCTION CONSULTANTS GROUP Rte. 44 North 16915 814 274-8191; Fax: 814 274-8191

Lafayette Hill MAUREEN MASTROIENI, MAI Ste. 201, 2001 Joshua Rd. 19444 610 825-5211; Fax: 610 825-5326

Philadelphia ARTHUR ANDERSEN LLP 1601 Market St. 19103-2499 215 241-6243 Fax: 215 241-8290

BINSWANGER APPRAISAL GROUP Two Logan Square 19103 215 448-6000 Fax: 215 448-6238

Binswanger, an international full-service teal estate organization, provides comprehensive real estate, machinery and equipment appraisal reports for purposes of mergers and acquisitions, financing, tax assessments or sales. Binswanger has 150 offices worldwide.

(a) JACKSON-CROSS.ONCOR INTERNATIONAL Stephen C. Coyle, Senior Vice President and Manager 1800 John F. Kennedy Blvd. 19103-7478 215 561-8366 215 557-6878

Headquartered in Philadelphia since 1876, Jackson-Cross.ONCOR International is the largest privately owned and managed commercial real estate firm in the region. We maintain a staff of qualified and experienced appraisers who value a wide variety of property types throughout the United States for many purposes. Our capabilities include the valuation of real estate; feasibility and market studies and reports; cost analyses; going concern and liquidation value; the appraisal of machinery and equipment; and real estate counseling. Our specialists perform in virtually every corner of the world through ONCOR International, allowing us to provide information and services in 30 countries and more than 200 markets.

McCANN AGENCY 2nd Fl., 2133 Arch St.19103-1350 215 564-6001: Fax: 215 564-6030

JOSEPH D. PASQUARELLA & CO. Ste. 890,1601 Market St. 19103 215 587-6000; Fax: 215 587-6007

REAL ESTATE COUNSELING GROUP 1320 Castle Ave.19148 215 336-2299; Fax: 215 241-8290

SOUTH CAROLINA

Columbia O. MARSHALL DODDS CO. INC. P.O. Box 185 29202 803 765-2840; Fax: 803 252-4780

Spartanburg EARL G. EZELL & CO. INC. 207 Magnolia St. 29306 864 582-8581; Fax: 864 582-8580

TENNESSEE

Brentwood CRIT-CRION PRPTY. RESOURCES Ste. 250,109 Westpark Dr. 37027 615 370-1212; Fax: 615 373-1485

Hermitage THE SPENCE CO. 4440 Andrew Jackson Pwy. 37076 615 883-1522; Fax: 615 883-2340

Memphis A. E. BALKIN & ASSOCS., INC. 4709 Spottswood Ave. 38117 901 683-7373; Fax: 901 761-0079

Nashville LEWIS GARBER & ASSOCS. Ste. 703W, 1719 West End Ave. 37203 615 329-4044; Fax: 615 329-4046

HUBER & LAMB APPRAISAL GROUP, INC. #S220, 150 2nd Ave. N. 37201 615 726-2575; Fax: 615 726-3680

TEXAS

Addison LOEWE-ADLER INT'L INC. P.O. Box 517 75001 214 407-1548; Fax: 214 248-9068

Austin AMERICAN REALTY CORP. Ste. 200. 712 Congress Ave. 78701 512 477-1312: Fax: 512 477-1593

APPRAISAL ASSOCS. OF AUSTIN, INC. 505 W. 15th St. 78701 512 477-6311: Fax: 512 477-1793

Conroe AMF APPRAISAL GROUP, INC. Ste. 450, 300 W. Davis 77301 409 756-5300; Fax: 409 756-5314

Dallas JOSEPH J. BLAKE AND ASSOCS., INC. Arturo Singer, MAI Harry Schroeder, MAI Ste. 800, 2121 San Jacinto St. 75201 214 969-7477

JOSEPH L. COTTRELL AND ASSOCS. Ste. 207, 1075 S. Griffin St. W. 75215 214 565-1481; Fax: 214 565-0828

DELOITTE & TOUCHE REALTY CONSULTING GROUP Ste. 1600, 2200 Ross Ave. 75201 214 777-7675

JOSEPH A. DENGEL & CO. Ste.175, 12201 Merit Dr. 75251 214 980-2595, Fax: 214 980-0196

(a) LANDAUER ASSOCIATES, INC. Ste. 930,13760 Noel Rd. 75240 214 866-9090 Fax: 214774-1992

International firm offering real estate valuation, analytical, research, financial and transaction counseling services to banks, corporations institutions, pension funds, developers, owners investors and governmental agencies. Landauer's counseling perspective is that of a problem-solver providing effective solutions to real estate problems.

ROSEN SYSTEMS INC. Ste. 100, 17744 Preston Rd. 75252-5736 214 248-2266; Fax: 214 248-6887

Fort Worth HAGOOD REALTY ADVISORS, INC. Ste. 400, 6421 Camp Bowie Blvd. 76116-5422 817 738-5667; Fax: 817 377-4737

WILLIAM E. OSWALD CO. Ste. D, 2905 Lackland 76116 817 735-1097; Fax: 817 735-1099

Houston CDS APPRAISAL CO. Ste. 322, 9225 Katy Fwy. 77024-1510 713 465-8866, Fax: 713 465-6975

PHILIP MUSHINSKI & ASSOC. Ste.101, 7447 Harwin Dr. 77036-2016 713 266-3000; Fax: 713 266-9084

O'CONNOR & ASSOCS. Ste. 110, 2000 N. Loop W. 77018 713 686-9955; Fax: 713 686-3377

PRICE WATERHOUSE LLP REAL ESTATE ADVISORY SERVICES GROUP D. Richard Wincott, MAI, CRE Partner Jerry W. Witte Jr., MAI Ste. 2900, 1201 Louisiana 77002-5678 713 654-4100

Provides real estate valuation, advisory, research and portfolio analysis services to pension funds and institutional investors.

STEWART ADVISORS, INC. Ste. 300, 4314 Stanford 77006 713 524-2262; Fax: 713 522-0275