TOP 25 INDUSTRIAL OWNERS

The Top 25 Industrial Owners survey is based on data provided by participating companies. The rankings are based on the amount of industrial space companies owned domestically as of Dec. 31, 2004.

1. ProLogis
   14100 E. 35th Place
   Aurora, CO 80011
   Phone: (303) 375-9292
   www.prologis.com
   Jeffrey Schwartz, CEO
   Walter Rakowich, President/COO
   Total Industrial Portfolio: 224.5 million sq. ft.

2. RREEF
   101 California St., 26th Floor
   San Francisco, CA 94111
   Phone: (415) 781-3300
   www.rreef.com
   Stephen M. Steppe, Managing Partner
   Timothy K. Gonzalez, Partner in Charge, Acquisitions
   Sol A. Raso, Partner in Charge, Client Relations
   Total Industrial Portfolio: 116.1 million sq. ft.

3. AMB Property Corp.
   Pier 1, Bay 1
   San Francisco, CA 94111
   Phone: (415) 394-9000
   www.amb.com
   Hamid R. Moghadam, Chairman/CEO
   W. Blake Baird, President/Director
   Michael A. Coke, EVP/CFO
   Total Industrial Portfolio: 87.7 million sq. ft.

4. Duke Realty Corp.
   600 E. 96th St., Suite 100
   Indianapolis, IN 46240
   Phone: (317) 808-6000
   www.dukerealty.com
   Dennis D. Oklak, Chairman/CEO
   Matthew A. Cohoat, EVP/CFO
   Robert M. Chapman, SEVP/Head of Real Estate Operations
   Total Industrial Portfolio: 84.5 million sq. ft.

5. First Industrial Realty Trust Inc.
   311 S. Wacker Dr., Suite 4000
   Chicago, IL 60606
   Phone: (312) 344-4300
   www.firstindustrial.com
   Mike Brennan, President/CEO
   Johannson Yap, Chief Investment Officer
   David Draft, EVP, Operations
   Total Industrial Portfolio: 64.4 million sq. ft.

6. ING Clarion Partners
   230 Park Ave.
   New York, NY 10169
   Phone: (212) 883-2500
   www.ingclarion.com
   Stephen J. Furnary, Chairman/CEO
   Jeffrey Barclay, Managing
   Director/Head of Acquisitions
   C. Stephen Cordes, Managing Director/Head of Portfolio Management
   Total Industrial Portfolio: 48.5 million sq. ft.

7. Liberty Property Trust
   500 Chesterfield Pkwy.
   Malvern, PA 19355
   Phone: (610) 648-1700
   www.libertyproperty.com
   William P. Hankowsky, CEO
   George J. Alburger, CFO
   Robert E. Fenza, COO
   Total Industrial Portfolio: 42.1 million sq. ft.

8. LaSalle Investment Management Inc.
   200 E. Randolph Dr.
   Chicago, IL 60601
   Phone: (312) 782-5800
   www.lasalle.com
   Lynn C. Thurber, CEO
   Kimball C. Woodrow, COO
   Jacques N. Gordon, PhD, Head of Global
   Research & Strategy
   Total Industrial Portfolio: 40.6 million sq. ft.

9. CenterPoint Properties Trust
   1808 Swift Dr.
   Oak Brook, IL 60523
   Phone: (630) 586-8000
   www.cntprop.com
   Michael M. Mullen, CEO
   Paul S. Fisher, President/CFO
   James N. Clewlow, Chief
   Investment Officer
   Total Industrial Portfolio: 39.7 million sq. ft.

10. Catellus Development Corp.
    201 Mission St., Second Floor
    San Francisco, CA 94105
    Phone: (415) 974-4500
    www.catellus.com
    Nelson C. Rising, Chairman/CEO
    Ted Antenucci, President, Catellus
    Commercial Development
    Bill Hosler, SVP/CFO
    Total Industrial Portfolio: 36.4 million sq. ft.

11. CB Richard Ellis Investors LLC
    865 S. Figueroa St., Suite 3500
    Los Angeles, CA 90017
    Phone: (213) 683-4200
    Email: [email protected]
    www.cbreinvestors.com
    Robert Zerbst, President
    William Harris, COO
    Vance Maddocks, Executive
    Managing Director
    Total Industrial Portfolio: 27.6 million sq. ft.

12. Panattoni Development Co.
    8401 Jackson Rd.
    Sacramento, CA 95826
    Phone: (916) 381-1561
    www.panattoni.com
    Carl Panattoni, Chairman
    Dudley Mitchell, President
    Jacklyn Shelby, COO/CFO
    Total Industrial Portfolio: 26.4 million sq. ft.

13. Lincoln Property Co.
    500 N. Akard, Suite 3300
    Dallas, TX 75201
    Phone: (214) 740-3300
    www.lincolnproperty.com
    Mack Pogue, Chairman
    Tim Byrne, President/CEO, Residential Division
    Bill Duvall, President/CEO, Commercial Division
    Total Industrial Portfolio: 24.4 million sq. ft.

14. IDI
    3424 Peachtree Rd., Suite 1500
    Atlanta, GA 30326
    Phone: (404) 479-4000
    www.idi.com
    Henry D. “Greg” Gregory, Jr., President/CEO
    Tim Gunter, EVP/COO
    David Birdwell, SVP/CFO
    Total Industrial Portfolio: 24.1 million sq. ft.

15. Heitman
    191 N. Wacker, Suite 2500
    Chicago, IL 60606
    Phone: (312) 855-5700
    www.heitman.com
    Jerome J. Claeys III, Chairman of the Board
    Maury Tognarelli, President/CEO
    Total Industrial Portfolio: 22.4 million sq. ft.

16. Hartz Mountain Industries Inc.
    400 Plaza Dr.
    Secaucus, NJ 07094
    Phone: (201) 348-1200
    www.hartzmountain.com
    Emanuel Stern, President/COO
    Gus Milano, EVP, Finance/Leasing
    Walter Smith, EVP, Development
    Total Industrial Portfolio: 22 million sq. ft.

17. Hillwood
    13600 Heritage Pkwy.
    Fort Worth, TX 76177
    Phone: (817) 224-6000
    www.hillwood.com
    Ross Perot Jr., Chairman
    Mike Berry, President, Hillwood Properties
    Todd Platt, CEO, Hillwood Investments
    Total Industrial Portfolio: 20.43 million sq. ft.

18. EastGroup Properties
    188 E. Capitol St., Suite 300
    Jackson, MS 39201
    Phone: (601) 354-3555
    www.eastgroup.net
    David H. Hoster II, President/CEO/Director
    N. Keith McKey, EVP/CFO/Treasurer/Secretary
    Bruce Corkern, SVP/Controller
    Total Industrial Portfolio: 20.41 million sq. ft.

19. USAA Real Estate Co.
    9830 Colonnade Blvd., Suite 600
    San Antonio, TX 78230
    Phone: (210) 498-3222
    www.usaarealco.com
    Edward B. Kelley, President/CEO
    T. Patrick Duncan, SVP, Real Estate Operations
    Glen Sam Mitts, SVP/Senior Financial Officer
    Total Industrial Portfolio: 19.9 million sq. ft.

20. Ashley Capital LLC
    675 Third Ave., Suite 1600
    New York, NY 10017
    Phone: (212) 755-1900
    www.ashleycapital.com
    Paul Rubacha, Principal
    Rick Morton, Principal
    Total Industrial Portfolio: 18 million sq. ft.

21. Opus Group
    10350 Bren Road 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 Industrial Portfolio: 17.7 million sq. ft.

22. Prentiss Properties Trust
    3890 W. Northwest Hwy., Suite 400
    Dallas, TX 75220
    Phone: (214) 654-5750
    www.prentissproperties.com
    Michael Prentiss, Chairman
    Thomas August, President/CEO
    Mike Ernst, CFO
    Total Industrial Portfolio: 16.1 million sq. ft.

23. Heller Industrial Parks Inc.
    205 Mill Rd.
    Edison, NJ 08837
    Phone: (732) 287-4880
    www.hellerpark.com
    Jeffrey J. Milanaik, President
    Total Industrial Portfolio: 15 million sq. ft.

24. HSA Commercial Real Estate
    180 N. Wacker Dr., Suite 500
    Chicago, IL 60606
    Phone: (312) 332-3555
    Jack Shaffer, Chairman
    Robert Smietana, Vice Chairman/CEO
    Daniel F. Miranda, President
    Total Industrial Portfolio: 14.3 million sq. ft.

25. Watson Land Co.
    22010 S. Wilmington Ave., Suite 400
    Carson, CA 90745
    Phone: (310) 952-6400
    www.watsonlandcompany.com
    Bruce Choate, President/CEO
    Kirk Johnson, SVP, Real
    Estate Operations
    Roger von Ting, VP/CFO
    Total Industrial Portfolio: 11 million sq. ft.