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Shorenstein Company Closes Purchase of Atlanta Office Building Second Purchase This Year for Seventh Real Estate Investment Fund San Francisco, CA, - July 6, 2005 - Shorenstein Company, a leading sponsor of private investment funds investing in major office buildings in the United States, closed on the purchase of 1155 Perimeter Center West, a 363,000 square foot office building in Atlanta, GA. The seller was a partnership which included Cousins Properties, Incorporated, a publicly-owned REIT. The purchase is Shorenstein's first in Atlanta, and the second acquisition for its seventh real estate investment fund. Terms were not disclosed. The 12-story office building, located in the Central Perimeter market of Atlanta, was completed in two stages in late 1999 and early 2000. The property includes a three-story trading floor and data center, which is the largest installation of its kind in the southeast, and features decked parking for 1,462 vehicles, or 4.14 stalls per thousand square feet. Tenants of the building include Mirant, Siemens and Tauber & Balser. Shorenstein and the seller are currently in advanced negotiations with a national tenant to make 1155 Perimeter its corporate headquarters with a 97,000 square foot lease, which would become one of the largest transactions in Metro Atlanta this year. Shorenstein has selected locally based Jones Lang LaSalle as leasing agent for the property. Since 1992, Shorenstein Company has sponsored a series of closed-end investment funds. The company has acquired and developed through these funds over 17.1 million square feet at a gross acquisition/development cost in excess of $3.4 billion. In investing these funds, Shorenstein applies its investment and operating capabilities to capitalize on opportunities offering the most attractive risk-adjusted returns. As a result, fund investments have included everything from ground-up development to asset repositioning to stabilized assets. Investment structures have included 100% acquisitions, preferred equity investments, mezzanine loans and structured joint ventures. ### About Shorenstein Company: Shorenstein Company (www.shorenstein.com) is a premier private owner and operator of Class A office buildings in the United States with a portfolio of more than 17 million square feet. The company is engaged in all aspects of office building investment, development, financing, leasing, and management. Since 1992, Shorenstein has sponsored a series of closed-end investment funds that have invested in Class A office projects located throughout the United States. Investors in these funds have included prominent foundations, endowments, pension funds and high net worth individuals. As the Sponsor of these funds, Shorenstein has delivered attractive risk-adjusted returns to investors by employing a disciplined value-added strategy.