GID INVESTMENT ADVISERS LLC ENTERS INTO JOINT VENTURE TO DEVELOP VISTA POINT IN DALLAS METROPLEX

Boston - (May 15, 2004) - GID Investment Advisers LLC (a division of The General Investment & Development Companies) announced today that it entered into a joint venture with the Jackson-Shaw Company to develop a flex/industrial business park in Coppell, TX to be known as Vista Point II. Jackson-Shaw is based in Dallas.

The first phase of Vista Point II will consist of 3 buildings with 93,550 square feet and the second phase will consist of 3 buildings with 114,400 square feet. It is expected that construction of Phase I will commence in August.

Vista Point is strategically located along Highway 121 in the City of Coppell near its intersection with MacArthur Boulevard. The property is located about 8 miles from the north entrance of DFW Airport. The site is also located within minutes of a full range of retail and convenience amenities including the Vista Ridge Mall. Highway 121 is in the process of being widened to serve as a major collector road linking a number of northwest Dallas communities with direct access to DFW Airport.

Bob Karp, GID’s Senior Vice President for flex/industrial development said “GID is pleased to enter the Dallas market in joint venture with the Jackson-Shaw Company which has long-standing experience and expertise in the Metroplex”.

He added, “The buildings of Vista Point will feature stone and brick accents, extensive glass lines, and will provide both dock-high and drive-in loading facilities. The buildings will be particularly well-suited to tenants desiring high identity from the new Highway 121 as well as those serving the high population and employment growth in the area”.

GID has been actively involved in the development and acquisition of flex business parks since the late 1980’s beginning with the development of Southport Business Park in Raleigh, NC which now totals 900,000 square feet in 17 buildings.

For more information, contact Bob Karp at (617) 854-6676 or visit our website at flexspace.com.