Ross G. Satterwhite

Callahan Capital Properties, Inc. is a newly organized and internally-managed Maryland corporation that will acquire, own, lease, redevelop and manage a portfolio consisting primarily of Class A office properties. They expect that these properties will be located primarily in major metropolitan office markets where they believe attractive real estate supply and demand fundamentals and advantageous investment characteristics exist. These markets initially will be Boston, greater Los Angeles, New York City, San Francisco, Seattle and Washington, DC. It intends to create value for their stockholders by leveraging both relevant expertises, existing investment and asset management capabilities.

Callahan Capital Properties, Inc. is a newly organized and internally-managed Maryland corporation that will acquire, own, lease, redevelop and manage a portfolio consisting primarily of Class A office properties. They expect that these properties will be located primarily in major metropolitan office markets where they believe attractive real estate supply and demand fundamentals and advantageous investment characteristics exist. These markets initially will be Boston, greater Los Angeles, New York City, San Francisco, Seattle and Washington, DC. It intends to create value for their stockholders by leveraging both relevant expertises, existing investment and asset management capabilities.