9/8/1999

Lerner Signs Leases for Tysons II

McLean, Virginia - Lerner Enterprises of North Bethesda, Maryland, one of Washington, D. C.'s premier real estate developers has announced that they have executed leases with the following firms at 1750 Tysons Boulevard, a 385,000 square foot, 18-story building being completed at The Corporate Office Centre at Tysons II in McLean, Virginia.

- Morgan Stanley Dean Witter will occupy 2,513 sq. ft.
- Millennium Laser Center will occupy 4,230 sq. ft.
- Interim Financial Services, Inc. will occupy 6,686 sq. ft.
- Winston Partners, L.P. will occupy 9,116 sq. ft.
- Houlihan, Lokey, Howard & Zukin, Inc. will occupy 9,127 sq. ft.
- Heidrick & Struggles, Inc. will occupy 20,251 sq. ft.
- IIT Research Institute will occupy 21,573 sq. ft.

The lead tenants of the building include Deloitte & Touche, USA LLP, the law firms of McGuire Woods Battle & Boothe LLP and Greenberg Traurig and the Palm Restaurant. The new leases will bring the building to 98% occupancy.

1750 Tysons Boulevard is the most recently completed phase of the 117 acre Tysons II, Tysons Corner's most visible commercial property at the intersection of Route 123 and Tysons Boulevard in McLean, Fairfax County, Virginia. Occupancy of the building began as scheduled in March.

1750 Tysons Boulevard features a granite-clad exterior, granite lobby, efficient and flexible floor plans, fitness club and state-of-the-art telecommunications system.

The Tysons II development to date includes the award-winning 800,000 square foot Tysons Galleria anchored by Saks Fifth Avenue, Neiman Marcus and Macy's, the 400 room Ritz-Carlton, Tysons Corner hotel, the fully leased award-winning 375,000 square foot office tower known as 1650 Tysons Boulevard whose major tenants include MCI, Dean Witter, Sterling Software and ITT, and the recently completed award-winning Lillian Court at Tysons II condominium project. 1750 Tysons Boulevard will be connected to the Galleria, 1650 Tysons Boulevard and The Ritz-Carlton with climate controlled walkways. An additional 2.5 million square feet including eight more office buildings and a second hotel can still be developed on the site. The next office building known as 1600 Tysons Boulevard, will be a 13-story 295,000 square foot tower. Construction is scheduled to begin in this month with occupancy available in February 2001.

Architects for the building are The Weihe Design Group of Washington, D.C. Lerner Corporation of North Bethesda, Maryland will handle management and Diamond Property Company of McLean, Virginia is acting as leasing consultant to the project. The general contractor is The Clark Construction Group, Inc. of Bethesda, Maryland.

Lerner Enterprises, founded by Theodore N. Lerner, is one of Washington, D.C.'s largest real estate developers and is involved in all phases of commercial and residential real estate including planning, development, construction, leasing, asset and property management.

Among its extensive office portfolio are Flint Hill Office Park, 7799 Leesburg Pike and 400 Army Navy Drive in Northern Virginia and White Flint North in Maryland and Washington Square and 1133 Connecticut Avenue in Washington, D.C.

Additional information on Lerner Enterprises is available on the Internet at Lerner.com.