THE GENERAL INVESTMENT AND DEVELOPMENT COMPANIES ANNOUNCES NEW MEMBER OF LEGAL DEPARTMENT

GID SUCCESSFULLY COMPLETES SEARCH FOR A NEW VICE PRESIDENT AND ASSOCIATE GENERAL COUNSEL

Boston - (June 6, 2005) - The General Investment & Development Companies (“GID”) has successfully completed the search for a new Vice President and Associate General Counsel. Melissa Fang has joined Boston-based GID as the newest member of the in-house legal team.

Melissa is a 1994 graduate of Georgetown University Law Center. Since that time, she has worked primarily in the area of real estate, most recently as a senior associate with the Boston-based law firm of Goodwin Procter LLP. At Goodwin, Melissa was a member of the Business Law Department and the Real Estate Investment Management practice area. Over the course of her career she has been involved in all facets of real estate investment; including acquisitions, dispositions, financing, development projects, joint ventures and commercial leasing. Melissa also has experience in representing pension fund advisors, REITs, institutional lenders and investors. She received her B.A., cum laude, from Wellesley College in 1989.