Crosland Adds Three to Retail Division

Charlotte, N.C. July 14, 2003 – Crosland, one of the Southeast’s leading, diversified, privately held real estate companies, announces the appointment of Diane Ballard as director of property management, John Brunner as development manager, and Greg Fallon as leasing associate, in the Retail Division in Charlotte, N.C.

“Crosland is excited to bring such a talented group of real estate professionals to our growing organization,” states Susan McGuire, senior vice president of the Retail Division.

Prior to joining Crosland, Ballard was the director of leasing for Inland Retail Real Estate Trust, handling a portfolio of over 10 million square feet in 82 properties. She also had been senior retail property manager for Lincoln Harris, managing 450,000 square feet, and senior property manager for Faison & Associates at its SouthPark Mall location in Charlotte. She has over 14 years experience in the retail real estate business.

Brunner previously worked for nine years with Little Diversified Architectural Consulting as a senior associate in the Workplace Practice Group. He was responsible for both new development and construction and for renovation projects for major corporate clients. He is a graduate of Clemson University, with a bachelor of science in Building Science and Construction Management.

Fallon comes to Crosland from Queens Properties, where as a commercial broker he represented over 50 companies in purchasing, disposition and leasing. He also worked with Koger Equity, Inc. in handling lease negotiations for 550,000 square feet of office/retail space. Fallon has a bachelor of arts in Business Management from Catawba College and is a licensed North Carolina real estate broker.

Crosland Retail is a division of Crosland, Inc. Its mission is to develop, invest and manage retail real estate for the benefit of its communities, customers and associates. The division excels in the development of retail property by offering consumers unique shopping experiences and tenants well-managed facilities. Completing its first retail development in 1938, Crosland Retail currently owns or is affiliated with 35 shopping centers and either manages, leases or is in the process of developing more than 3 million square feet of retail space located in the Carolinas, Georgia, Florida and Virginia.