PRESS RELEASES

Riverfront Plaza Honored by EPA For Energy Conservation

First Office Building in Downtown Richmond to Receive this Prestigious National Recognition

9/8/08

(RICHMOND, VA) – The Richmond office of Hines, the international real estate firm, announced today that Riverfront Plaza was recognized by the Environmental Protection Agency (EPA), earning the EPA’s highly regarded ENERGY STARâ label in recognition of outstanding energy conservation.  It is the first privately held commercial office building in downtown Richmond to receive the ENERGY STAR recognition.

Riverfront Plaza, located on the banks of the James River, comprises two 21-story office buildings totaling over 1,000,000 gross square feet.  Hines’ Core Fund, an investment vehicle that acquires a geographically diverse portfolio of core office buildings in the U.S., purchased the property in November 2006, and has implemented many energy-saving initiatives to add value to the already modern buildings.

“The project’s ENERGY STAR label was achieved solely through the diligent efforts of our management and engineering personnel who create efficiencies through modifications to building operations and the maintenance of existing equipment,” noted Hines General Property Manager Ken Williams.  “No new energy technologies were installed since Hines took over, but many are planned for the future, leading to further efficiencies.”

“Protecting the environment through sound energy management is a priority for us at Hines,” said Hines President Jeffrey C. Hines. “The ENERGY STAR program is good for our bottom line and good for the environment.”

In 1998, the EPA created the ENERGY STAR label for buildings – the mark of excellence in energy performance – to recognize and promote excellence in strategic energy management, smart business practices and environmental responsibility.  Overall, the primary objective of the ENERGY STAR program is to reduce greenhouse gas emissions.  More than 12,000 organizations have partnered with ENERGY STAR over the past 15 years.  In 2007, the program helped prevent 40 metric tons of CHG emissions and saved more than $16 billion on their utility bills.

Hines has been an active participant in ENERGY STAR since the program’s inception. Today, 95 Hines-owned and/or managed buildings totaling 64.7 million square feet are ENERGY STAR-labeled.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes more than 1,000 properties representing approximately 435 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.  With offices in more than 100 cities in 16 countries, and controlled assets valued at approximately $22.9 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.