SWD Advisors

SWD manages and co-invests in the $400 million real estate investment program. Together with SWD the investment platform will be capitalized by Lehman Brothers Real Estate Partners, which is the real estate merchant banking arm of Lehman Brothers Private Equity. Capital & Counties U.S.A., Inc., a subsidiary of a major public European real estate investor, will provide additional capital.

Lehman Brothers

Lehman Brothers (ticker symbol: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. For further information about Lehman Brothers’ services, products and recruitment opportunities, visit the Firm's Web site at www.lehman.com.

Lehman Brothers’ Private Equity business, started in 1984, manages $26 billion in 23 different investment strategies across six asset classes: merchant banking, venture capital, real estate, fund-of-funds, credit and infrastructure. Lehman Brothers Real Estate Partners manages a full-service real estate merchant banking business with two global equity funds aggregating $4.0 billion of equity capital and one mezzanine investment fund aggregating $1.1 billion of equity capital.

Lehman Brothers Inc. Member SIPC

Capital & Counties U.S.A., Inc.

Capital and Counties USA Inc. (C&C) is a wholly owned subsidiary of London based public REIT with a market capitalization of £9B (approx $18B at current exchange). C&C’s parent is the third largest property owner/developer in the UK. Retail is by far the predominant asset class in the portfolios of both C&C (community centers and a regional mall) and its parent (primarily regional malls). The company seeks to diversify its portfolio through increased foreign investment (including the US) and opportunity driven joint ventures.