PRESS RELEASES

Major Commercial Real Estate Owner Embraces President’s Energy Conservation Message — Pledges To Double "Energy Star" Certification

5/17/2001

HOUSTON, TEXAS, Responding to President Bush’s call today for expanded conservation efforts, Hines, the international real estate firm, is stepping up its nationally recognized program of energy conservation in buildings it owns and/or manages. Company President Jeffrey Hines today pledged that, in the next eighteen months, Hines would more than double the number of buildings in its U.S. portfolio certified under the Environmental Protection Agency’s (EPA) ENERGY STAR â program.

Hines’ 28 buildings already certified represent 12 percent of the total number of the nation’s Energy Star commercial buildings. Hines plans to improve energy efficiency and achieve certification in an another 32 commercial properties by the end of 2002. In addition, the company will benchmark 33 other properties in the coming months to determine whether they can be included in the program.

Hines’ Energy Star-certified properties include several in Hines’ home city of Houston, including One Shell Plaza, Greenspoint Plaza, Williams Tower, 1100 Louisiana and Phoenix Tower. The roster of notable Energy Star buildings also includes US Bank Place in Minneapolis, Two Twenty Two Berkeley in Boston, and Comerica Tower at Detroit Center in Detroit.

Hines-managed properties consume significantly fewer British Thermal Units (BTUs) per square foot than the industry average. According to the United States Department of Energy (DOE), the average annual energy consumption in U.S. commercial office buildings is approximately 110,000 BTUs per square foot; the Hines average over the past four years is 84,100 BTUs per square foot-23.5 percent lower than the national average.

Mr. Hines said: "The nation needs to conserve energy, and we are accelerating our efforts to do our part. Through the responsible utilization of energy resources, the diligent monitoring of energy consumption, the identification of ways to improve energy efficiency, and the education of operating staff, Hines will continue to set itself apart as a conservation leader."