3/21/2000

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 1650 and 1750 Tysons Boulevard in The Corporate Office Centre at Tysons II in McLean, Virginia.

•  Shaw Pittman - 70,342 sq. ft.
•  Deutsche Banc Alex.Brown - 22,194 sq. ft.
•  Salomon Smith Barney - 22,194 sq. ft.
•  O'Melveny & Myers L.L.P. -11,295 sq. ft.
•  Independence Fixed Income Associates, Inc. - 10,899 sq. ft.
•  Morrison and Forrester, L.L.P. - 10,787 sq. ft.
•  Stargazer Group - 9,679 sq. ft.
•  AES Corporation - 6,487 sq. ft.
•  Administaff - 5,137 sq. ft.
•  Christian & Timbers - 4,945 sq. ft.
•  Kruchko & Fries - 2,875 sq. ft.
•  Noosh, Inc. - 2,250 sq. ft.
•  1750 Cafe - 838 sq. ft.

These new leases bring both buildings, totaling 750,000 square feet, to 100% leased and occupancy levels.

1650 and 1750 Tysons Boulevard are the first two phases 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.

The award-winning Tysons II development to date includes:

• Tysons Galleria.  The 800,000 square foot shopping mall anchored by Saks Fifth Avenue, Neiman Marcus and Macy's, and over 100 shops and restaurants.
• The Ritz-Carlton, Tysons Corner.  A 400 room luxury hotel connected to both office towers and the Galleria by climate enclosed walkways.
• 1650 Tysons Boulevard.  The 385,000 square foot office tower whose major tenants include Shaw Pittman, Morgan Stanley Dean Witter, Sterling Software, ITT, Salomon Smith Barney, and Deutsche Banc Alex.Brown.
• 1750 Tysons Boulevard.  The 385,000 square foot tower whose major tenants include Deloitte & Touche, McGuire Woods Battle & Boothe, Greenberg Traurig, and the Palm Restaurant.
• Lillian Court at Tysons II.  The recently completed 286 unit condominium project.

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 has begun with occupancy available in February, 2001.

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; White Flint North in Maryland; Washington Square and 1133 Connecticut Avenue in
Washington, D. C.