REIT AND PUBLICLY TRADED REAL ESTATE INDUSTRY OFFICIALS ELECTED

WASHINGTON, Oct. 22 /PRNewswire/ -- The National Association of Real Estate Investment Trusts(R) (NAREIT) has elected its 1999-2000 officers, members of its executive committee and new members of its board of governors.  The elections took place by fax ballot distributed to the association's members prior to the NAREIT 1999 Annual Convention, which will be held October 27-29 in Los Angeles.  A complete listing of members of the 1999-2000 NAREIT Board of Governors is attached.  Re-elected chair was Samuel Zell, chairman, Equity Office Properties Trust (NYSE: EOP); Equity Residential Properties Trust (NYSE: EQR); and Manufactured Home Communities (NYSE: MHC), Chicago, IL.  Re-elected first vice chair was David E. Simon, chief executive officer, Simon Property Group (NYSE: SPG), Indianapolis, IN.  Re-elected second vice chair was William D. Sanders, chairman, Security Capital Group Incorporated (NYSE: SCZ), Santa Fe, NM.  Re-elected treasurer was Dean Jernigan, chairman and chief executive officer, Storage USA, Inc. (NYSE: SUS), Memphis, TN.  Elected to the executive committee were:  Terence C. Golden, president and chief executive officer, Host Marriott Corporation (NYSE: HMT), Bethesda, MD; Frank C. McDowell, president and chief executive officer, BRE Properties, Inc. (NYSE: BRE), San Francisco, CA; Richard L. Michaux, president and chief executive officer, AvalonBay Communities, Inc. (NYSE: AVB), Alexandria, VA; Steven Roth, chairman and chief executive officer, Vornado Realty Trust (NYSE: VNO), New York, NY; and Warren E. Spieker, Jr., chairman, Spieker Properties, Inc. (NYSE: SPK), Menlo Park, CA.  Also elected to the executive committee were past chairs Milton Cooper, chairman and chief executive officer, Kimco Realty Corporation (NYSE: KIM), New Hyde Park, NY; and Steven J. Guttman, president and chief executive officer, Federal Realty Investment Trust (NYSE: FRT), Rockville, MD.  Elected to the board of governors were:  Essel W. Bailey, Jr., chairman, president and chief executive officer, Omega Healthcare Investors, Inc. (NYSE: OHI), Ann Arbor, MI; Bruce W. Duncan, chairman, president and chief executive officer, Cadillac Fairview Corporation (NYSE: CDF), Toronto, ON; John C. Goff, vice chairman, president and chief executive officer, Crescent Real Estate Equities Company (NYSE: CEI), Fort Worth, TX; Alan M. Leventhal, chairman and chief executive officer, Beacon Capital Partners (Private), Boston, MA; Thomas H. Lowder, chairman, president and chief executive officer, Colonial Properties Trust (NYSE: CLP), Birmingham, AL; Edward Lowenthal, president and chief executive officer, Wellsford Real Properties, Inc. (Amex: WRP), New York, NY; Richard L. Michaux, president and chief executive officer, AvalonBay Communities, Inc. (NYSE: AVB), Alexandria, VA; John S. Moody, president and chief executive officer, Cornerstone Properties Inc. (NYSE: CPP), New York, NY; Gary M. Ralston, president and chief operating officer, Commercial Net Lease Realty (NYSE: NNN), Orlando, FL; Steven Roth, chairman and chief executive officer, Vornado Realty Trust (NYSE: VNO), New York, NY; Warren E. Spieker, Jr., chairman, Spieker Properties, Inc. (NYSE: SPK), Menlo Park, CA; Jay Sugarman, president and chief executive officer, Starwood Financial Trust (AMEX: APT), New York, NY; Paul W. Whetsell, chairman and chief executive officer, Meristar Hospitality Corporation (NYSE: MHX), Washington, DC; and Richard S. Ziman, chairman and chief executive officer, Arden Realty, Inc. (NYSE: ARI), Los Angeles, CA.  The National Association of Real Estate Investment Trusts(R) (NAREIT) is the national trade association for REITs and publicly traded real estate companies.  Members are real estate investment trusts (REITs) and other businesses that own, operate and finance income-producing real estate, as well as those firms and individuals who advise, study and service those businesses. Visit NAREIT's Web site at www.nareit.com.                         1999-2000 NAREIT BOARD OF GOVERNORS                               Samuel Zell, Chair                        David E. Simon, First Vice Chair                     William D. Sanders, Second Vice Chair                            Dean Jernigan, Treasurer     Essel W. Bailey, Jr.      Thomas L. Hefner         David E. Simon     Chairman, President       Chairman and CEO         CEO     and CEO                   Duke-Weeks Realty        Simon Property     Omega Healthcare          Corporation              Group     Investors, Inc.     Robert Batinovich         Dean Jernigan            Leland R. Speed     Chairman and CEO          Chairman and CEO         Chairman     Glenborough Realty        Storage USA, Inc.        East Group     Trust Incorporated                                 Properties                                                        Parkway Properties     Richard J. Campo          Harvey Lenkin            Warren E. Spieker, Jr.     Chairman and CEO          President and COO        Chairman     Camden Property Trust     Public Storage, Inc.     Spieker Properties,                                                        Inc.     George L. Chapman         Alan M. Leventhal        Jay Sugarman     Chairman, CEO and         Chairman and CEO         President and CEO     President                 Beacon Capital           Starwood Financial     Health Care REIT, Inc.    Partners                 Trust     Milton Cooper             Edward H. Linde          Robert S. Taubman     Chairman and CEO          President and CEO        President and CEO     Kimco Realty              Boston Properties, Inc.  Taubman Centers, Inc.     Corporation     Arthur M. Coppola         Thomas H. Lowder         Paul W. Whetsell     President and CEO         Chairman, President      Chairman and CEO     The Macerich Company      and CEO                  Meristar Hospitality                               Colonial Properties      Corporation                               Trust     Douglas Crocker II        Edward Lowenthal         Bernard Winograd     President and CEO         President and CEO        CEO     Equity Residential        Wellsford Real           Prudential Real     Properties Trust          Properties, Inc.         Estate Investors     Anthony W. Deering        Frank C. McDowell        Scott A. Wolstein     Chairman, President       President and CEO        Chairman and CEO     and CEO                   BRE Properties, Inc.     Developers Diversified     The Rouse Company                                  Realty Corporation     Bruce W. Duncan           Richard L. Michaux       Samuel Zell     Chairman, President       President and CEO        Chairman     and CEO                   AvalonBay                Equity Office     Cadillac Fairview         Communities, Inc.        Properties Trust     Corporation                                        Equity Residential                                                        Properties Trust                                                        Manufactured Home                                                        Communities     John S. Gates, Jr.        John S. Moody            Richard S. Ziman     President and CEO         President and CEO        Chairman and CEO     CenterPoint Properties    Cornerstone              Arden Realty, Inc.                               Properties Inc.     John C. Goff              Gary M. Ralston          Past Chairs     Vice Chairman,            President and COO        (Ex-Officio Members):     President and CEO         Commercial Net Lease     Stanford J. Alexander     Crescent Real Estate      Realty                   Chairman and CEO     Equities Company                                   Weingarten Realty                                                        Investors     Terrence C. Golden        Steven Roth              John P. McCann     President and CEO         Chairman and CEO         Chairman and CEO     Host Marriott             Vornado Realty Trust     United Dominion     Corporation                                        Realty Trust     Steven J. Guttman         William D. Sanders       Kenneth B. Roath     President and CEO         Chairman                 Chairman, President     Federal Realty            Security Capital         and CEO     Investment Trust          Group Incorporated       Health Care Property                                                        Investors, Inc.     John Bucksbaum                                     William Newman     CEO                                                Chairman     General Growth                                     New Plan Excel Realty     Properties, Inc.                                   Trust, Inc.    SOURCE  National Association of Real Estate Investment Trusts /CONTACT:  Laura Armstrong or Jay Hyde, 202-739-9400 or 1-800-3NAREIT, both of National Association of Real Estate Investment Trusts/  /Web site:  http://www.nareit.com/        (EOP EQR MHC SPG SCZ SUS)  CO:  National Association of Real Estate Investment Trusts; Equity Properties      Trust; Equity Residential Properties Trust; Manufactured Home      Communities; Simon Property Group; Security Capital Group Incorporated;    Storage USA, Inc. ST:  District of Columbia IN:  RLT SU:  PER 
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