GID ANNOUNCES NEW MEMBER OF LEGAL DEPARTMENT

Boston - (September 4, 2001) - The General Investment & Development Companies ("GID") announced today that Timothy J. Hinkle has joined GID as Vice President and Associate General Counsel. In that position, Tim becomes a member of GID’s senior management team.

Tim brings to the GID in-house legal team an impressive and wide range of experience in all aspects of commercial real estate acquisition, leasing and development matters. In addition, in his distinguished legal career, Tim has had extensive experience in a wide variety of environmental and litigation matters. GID is pleased to add his varied talents to its strong in-house legal team.

Before joining the legal team at GID, Tim was with the Boston based law firm of Ropes & Gray. At Ropes & Gray, Tim was a senior associate in the Real Estate Department and had been with Ropes & Gray since 1990. He received his J.D., cum laude, from Suffolk University Law School in 1989 and his B.A. from Williams College in 1984.