Press Release

Tom Prescott Assumes Leadership of Illinois Science + Technology Park: Prescott hired as Project Director & Senior Vice President

For immediate release - January 2, 2008

Skokie, IL - Forest City Science + Technology Group announces the hiring of Tom Prescott as Senior Vice President of its national Science + Technology Group and Project Director of the Illinois Science + Technology Park - a redevelopment of the former G.D. Searle/Pfizer facility into a state-of-the art, multi-tenant research campus.

Prescott brings to Forest City an extensive portfolio in complex, large-scale, multi-use developments. Previously, he was Senior Vice President & head of the Chicago office at a national development firm headquartered in Chicago.

"Tom's experience in technology-based and greater Chicago area developments will serve the project well," Forest City's Science + Technology Group President, Frank Wuest, said. "His leadership will undoubtedly have an immediate impact and will continue the established momentum already synonymous with this exciting project that is adding valuable research space to the Illinois market."

About the Science Park
The Illinois Science + Technology Park, located in Skokie, Illinois, is a 23-acre corporate office and research campus offering 660,000 square feet of existing space with advanced facilities including chemistry and genomics laboratories, GMP manufacturing suites, clean rooms, NMR suites, research and toxicology labs, conference facilities, and administrative offices, as well as additional build-to-suit opportunities.

The Illinois Science + Technology Park's customized research space allows for synergistic partnerships between large companies, small innovators, medical institutions and universities to commercialize research-based technology.

About the Developer
Forest City Science+ Technology Group (www.forestcityscience.net) operates a portfolio of more than two million square feet of life science/technology office space with more than eight million square feet in the planning or development stages. Its properties are in major markets including Boston, Baltimore, Philadelphia, Chicago and Denver.

Forest City Science + Technology Group is a division of Forest City Enterprises, Inc., a $10 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States.

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