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                               FINANCE & INVESTMENT CONFERENCES




                                                                                                 42
                   ✯ REAL ESTATE ✯



                                                                                                   5 ✯20
                                                                                                     IM
                                    Fourth Annual U.S.




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  OPPORTUNITY & PRIVATE FUND
       INVESTING FORUM
            ✯✯✯
        HIGH-PERFORMANCE PROPERTY INVESTMENTS IN
   DIRECT REAL ESTATE, PRIVATE EQUITY & MERCHANT BANKING

         May 28-29, 2003 ✯ Crowne Plaza Times Square ✯ New York City




Participating Real Estate Funds And Investment Advisors Include:
ACI CAPITAL CO, INC.                DLJ REAL ESTATE CAPITAL PARTNERS   O'CONNOR CAPITAL PARTNERS
AEW CAPITAL MANAGEMENT              DRA ADVISORS LLC                   OLYMPUS REAL ESTATE PARTNERS
AIG GLOBAL REAL ESTATE              EQUUS REALTY ADVISORS, INC.        PENSION CONSULTING ALLIANCE, INC.
INVESTMENT CORP.                    FOG CUTTER CAPITAL GROUP, INC.     THE PARMENTER COMPANY
ANGELO, GORDON & CO.                GE CAPITAL REAL ESTATE             PERRY REAL ESTATE PARTNERS
ANTARES REAL ESTATE                 GOLDMAN SACHS WHITEHALL            PORTFOLIO ADVISORS
APOLLO REAL ESTATE ADVISORS         STREET FUNDS                       THE PRAEDIUM GROUP
BLACK CREEK CAPITAL                 GREYSTAR REAL ESTATE ADVISORS      PRICOA PROPERTY PRIVATE EQUITY LTD.
BLACKACRE CAPITAL MANAGEMENT        ING REALTY PARTNERS                PRUDENTIAL REAL ESTATE INVESTORS
BLACKSTONE REAL ESTATE ADVISORS     JP MORGAN FLEMING ASSET            RAWSON, BLUM & LEON
CABOT PROPERTIES                    MANAGEMENT                         RIVERSTREET REALTY ADVISORS
CARGILL FINANCIAL SERVICES CORP.    LANDMARK PARTNERS, INC.            SOROS REAL ESTATE PARTNERS
CONTRARIAN CAPITAL MANAGEMENT LLC   THE LASHINE GROUP                  STARWOOD CAPITAL GROUP
COVENTRY REAL ESTATE PARTNERS       LEHMAN BROTHERS REAL ESTATE        STRATEGIC INVESTMENT GROUP
CUTWATER CAPITAL LLC                PARTNERS                           THAYER CAPITAL PARTNERS
DB REAL ESTATE                      LIQUID REALTY PARTNERS             WALL STREET REALTY CAPITAL
D E & J LEVY                        LUBERT-ADLER MANAGEMENT, INC.      WALTON STREET CAPITAL LLC
DENHOLTZ ASSOCIATES                 MORGAN STANLEY REAL ESTATE FUND    WATERMARK CAPITAL PARTNERS

                    To Register For This Forum, Please Go To: www.imn.org/a457/m/
✯ Agenda ✯ Wednesday, May 28, 2003
       Day One:
Financial Times C o u r t e s y O f :


7:30          R e g i s t ra t i o n . . . B re a k fa s t C o u r t e s y O f :
8:15          OPENING REMARKS
              Information Management Network
              Forum Chairperson:
              David Brush, Managing Director & Global Head of Real Estate Opportunity Fund Group DEUTSCHE BANK REAL ESTATE
8:30          MACROECONOMIC OUTLOOK OF PROPERTY AND CAPITAL MARKETS FROM THE FUND MANAGERS’ PERSPECTIVE:
              EVALUATING THE LIKELIHOOD OF INCREASED DISTRESS
              ✯ What is the expected impact of the macro economy and war on valuation? ✯ Will low interest rates prevent the collapse of the
              industry? ✯ Property Regulations Update: What effect will current Washington proposals have? REIT regulations: Good for private fund
              markets? ✯ Valuation and the buy/sell divide: Where is pricing heading this year? When will demand return and supply burn off?
              ✯ How do you assess value within the framework of current vacancies? ✯ What are the risk factors of operating in the current market?
              Moderator:
              David Hodes, Managing Director CSFB REAL ESTATE PRIVATE FUND GROUP
              Panelists:
              Ron Kravit, Managing Director BLACKACRE CAPITAL MANAGEMENT
              John Kukral, Senior Managing Director BLACKSTONE REAL ESTATE ADVISORS
              Barry A. Sholem, Chairman DLJ REAL ESTATE CAPITAL PARTNERS
              Jay Mantz, Managing Director MORGAN STANLEY REAL ESTATE FUND
              Richard Georgi, Global Managing Partner SOROS REAL ESTATE PARTNERS
9:30          STRATEGIES FOR REAL ESTATE FUNDS: IS THIS THE TIME TO BUY?
              ✯ Where are the 20% IRR deals? ✯ Where are you investing now? Where will you be investing in six months? Twelve?
              ✯ Hot Sectors 2003-04 ✯ Where is the "safe-haven" for investing? ✯ Surviving or thriving: What is your strategy in today's market?
              ✯ West Coast vs. East Coast ✯ What are your target returns? ✯ Who are your investors? Are you currently fund raising? ✯ What was
              your last acquisition? How much did you pay? Did you go it alone or did you have a partner? ✯ Where are your leads on opportunities
              coming from? ✯ Limited Partner trends: Are expectations changing? What effect will it have on the market? ✯ Who will be left in the
              Real Estate market in one year?
              Moderator:
              Dennis Yeskey, Regional Managing Director DELOITTE & TOUCHE LLP
              Panelists:
              Martin Zieff, Principal AEW CAPITAL MANAGEMENT
              Michael McNamara, Managing Director LEHMAN BROTHERS REAL ESTATE PARTNERS
              Darryl Parmenter, President & Chief Executive Officer THE PARMENTER COMPANY
              Robert M. Stern, Managing Director PERRY REAL ESTATE PARTNERS
              Jeffrey S. Quicksilver, Principal WALTON STREET CAPITAL LLC
              Michael G. Medzigian, Chairman & Managing Partner WATERMARK CAPITAL PARTNERS LLC


10:30         R e f re s h m e n t s C o u r t e s y O f :


10:45         WHAT'S IN A NAME? DO "OPPORTUNITY FUNDS" STILL EXIST?
              ✯ Are Opportunity Funds returning money or changing fund mandates? ✯ How are the funds dealing with investor 20% expectations?
              Is 20% a reasonable benchmark? Are you marketing 20%? ✯ Lessons learned: How has the industry changed over the past 10 years?
              ✯ What are the actual performance projections for existing funds? ✯ Are investors shying away from "opportunity" funds? ✯ How are
              you diversifying your business focus: Other investment products, distribution channels, property management involvement, etc.?
              ✯ Blended return approaches ✯ Defensive opportunistic investing: An oxymoron? ✯ Impact of new funds entering the market
              ✯ Core Strategies: Will more funds be doing core and value-added investing going forward rather than being opportunistic?
              Moderator:
              Debbie Levinson, Partner ERNST & YOUNG LLP
              Panelists:
              Keith Barket, Managing Director ANGELO, GORDON & CO.
              David Glickman, Partner APOLLO REAL ESTATE ADVISORS
              Ronald Sanders, Partner CLIFFORD CHANCE LLP
              Gil Tenzer, Partner CONTRARIAN CAPITAL MANAGEMENT LLC
              Dean Adler, Principal LUBERT ADLER MANAGEMENT, INC.
              Russell Appel, President THE PRAEDIUM GROUP

2   l   To Register For This Forum, Please Go To: www.imn.org/a457/m/
11:45   FUTURE OUTLOOK FOR REAL ESTATE OPPORTUNITIES ABROAD
        ✯ Evaluating current US attitude toward overseas investing ✯ Risk profile ✯ Transparency of European markets: Has it improved? Or
        have US funds’ expectations of transparency come down? ✯ Is there an edge enjoyed by funds with local market expertise? ✯ Does
        the euro help US investors? ✯ What is the current investment climate for Eastern Europe and the Baltic States? ✯ Distressed
        opportunities in Japan/Asia ✯ Latin America: Is the investment climate heating up?
        Moderator:
        Martin Edelman, Partner PAUL, HASTINGS, JANOFSKY & WALKER LLP
        Panelists:
        Jeff Leu, President CARGILL FINANCIAL SERVICES CORP.
        Richard Watson, Investment Partner D E & J LEVY
        Andrew A. Wiederhorn, Chairman & Chief Executive Officer FOG CUTTER CAPITAL GROUP, INC.
        Philip N. Feder, Partner PAUL, HASTINGS, JANOFSKY & WALKER LLP
        Jonathan Short, Chief Executive PRICOA PROPERTY PRIVATE EQUITY LTD.
        Bradford H. Dockser, Managing Director, Europe STARWOOD CAPITAL GROUP LLC


12:45   Luncheon Cour tesy Of:



         ✯ CONCURRENT SESSIONS: CHOOSE “A” OR “B” ✯
                                       -A-                                                                 -B-
2:00     IS RETAIL ON THE REBOUND?                                         2:00     DEAL STRUCTURING: EFFICIENT TAX, LEGAL AND
         ✯ Near-term sector outlook ✯ Impact of bankruptcies and                    ACCOUNTING PRACTICES
         restructuring ✯ Dealing with excess or non-strategic space                 ✯ What is your leverage (financing, interest rates, etc.) in
         ✯ Retail investors' sudden emergence as winning bidders                    structuring your deals? ✯ What issues are involved in
         for Trophy assets ✯ Valuation: Are there any clearance sales               creating a new fund? ✯ Domicile considerations
         going on? ✯ Buying leases in bankruptcy                                    Moderator:
         Moderator:                                                                 Peter Fass, Partner PROSKAUER ROSE LLP
         Derek M. Smith, Partner                                                    Panelists:
         PAUL, HASTINGS, JANOFSKY & WALKER LLP                                      David Moldenhauer, Partner CLIFFORD CHANCE LLP
         Panelists:                                                                 Sanford Presant, National Director of Opportunity Funds
         Richard Mack, Partner                                                      ERNST & YOUNG LLP
         APOLLO REAL ESTATE ADVISORS LP                                             Bradley Muth, Managing Director ING REALTY PARTNERS
         Peter Henkel, Managing Partner                                             Bruce L. Gelman, Partner
         COVENTRY REAL ESTATE PARTNERS                                              MAYER, BROWN, ROWE & MAW
         Francis X.Tansey, President DRA ADVISORS LLC                               Paul Ryan, Partner PRICEWATERHOUSECOOPERS LLP
         P.J.Yeatman, Principal LUBERT-ADLER MANAGEMENT, INC.
         Joseph D. Blum, President RAWSON, BLUM & LEON
         Robert Hellman, Managing Principal
         RIVERSTREET REALTY ADVISORS

3:00     OUTLOOK FOR THE MULTIFAMILY SECTOR:WILL IT                        3:00     STRATEGIES FOR PAN-EUROPEAN REAL ESTATE
         BE IN THE PENTHOUSE OR THE DOGHOUSE?                                       FUNDS
         ✯ The impending doom of single family residential: Have                    ✯ What are the current market trends? ✯ What general
         rates been holding up the industry? Is there a false confidence            issues need to be considered when structuring such funds?
         in home equity? ✯ Homebuilders' perspective ✯ Interest rate
                                                                                    ✯ Which fund structures are commonly used?
         impact on home and apartment living ✯ Is this the time to
         build new apartments? ✯ Which markets have slack where                     ✯ Which investor specific issues will you face? ✯ What are
         you can add supply? ✯ Converting to apartments: What is                    the principal management and operational issues?
         the potential upside?                                                      ✯ Which carried interest considerations are relevant?
         Moderator:                                                                 ✯ Which transactional issues are important? ✯ Trends in
         Steven C. Koppel, Partner                                                  fund terms and conditions
         HELLER EHRMAN WHITE & MCAULIFFE LLP                                        Moderator:
         Panelists:                                                                 Nigel Hatfield, Partner CLIFFORD CHANCE LLP
         Roger Barris, Managing Director & European Head of Real Estate
         Opportunity Fund Group DEUTSCHE BANK REAL ESTATE                           Panelists:
         Ben Friedman, President GREYSTAR REAL ESTATE ADVISORS                      Steven Meise, Vice President
         John A. Rivard, Partner & Co-Head of North American                        AIG GLOBAL REAL ESTATE INVESTMENT CORP.
         Operations O’CONNOR CAPITAL PARTNERS                                       Urban Edenstrom, Chief Executive Officer NEWSEC AB


3:45    R e f re s h m e n t s C o u r t e s y O f :



                                              INFORMATION MANAGEMENT NETWORK      Email: mail@imn.org   Tel: (212) 768-2800   Fax: (212) 768-2484   l3
                                         -A-                                                                         -B-
4:00           WHICH FACTORS WILL DRIVE OFFICE MARKET RECOVERY?                          4:00   SHORT-TERM FINANCING OPTIONS FOR YOUR
               ✯ Tenants: What are reasonable expectations for job                              REAL ESTATE INVESTMENTS
               growth? ✯ How do you Underwrite Vacancy?                                         ✯ Using Credit Facilities ✯ Bridge Loans
               ✯ How much vacancy is there? How much shadow space?
               Moderator:                                                                       ✯ Evaluating ERISA prohibited transaction rules as they
               Chad M. Carpenter, President                                                     relate to subscription secured credit facilities
               EQUUS REALTY ADVISORS, INC.                                                      Panelists:
               Panelists:                                                                       James E.Tyson, Jr., Managing Director
               Jonathan W. Cappo, Managing Principal
               CUTWATER CAPITAL LLC                                                             BANC OF AMERICA SECURITIES LLC
               Kurt Roeloffs, Managing Director & Head of Asian/American                        Timothy E. Powers, Partner HAYNES AND BOONE, LLP
               Real Estate Opportunity Fund Group                                               James Sullivan, Managing Director JP MORGAN CHASE
               DEUTSCHE BANC REAL ESTATE                                                        N. Richard Kalikow, Founder and President
               Stan Gale, Chairman and Chief Executive Officer                                  MANCHESTER REAL ESTATE & CONSTRUCTION LLC
               THE GALE COMPANY
               Richard G. Brace, Jr., Senior Vice President                                     Jeffrey Schaffer, Managing Partner
               TORTO WHEATON RESEARCH                                                           SPECTRUM INVESTMENT PARTNERS LP
4:45           THE INDUSTRIAL SECTOR: IS IT RECESSION PROOF?                             4:45   PERFORMANCE MEASUREMENT, FUND
               ✯ Multi-use facilities: Can you build flexibility into your properties?          TRANSPARENCY AND MONITORING
               ✯Turning around tech properties ✯ Repositioning, redeveloping                    ✯ Should there be a separate body set up to compare the
               & turnaround strategies ✯ Which markets have growth                              results of the funds on a consistent basis? ✯ What are the
               potential? ✯ Is cold storage heating up? ✯ Is there a trend                      best benchmarks for Opportunity & Private Funds?
                                                                                                ✯ Are real estate funds becoming more transparent?
               towards smaller warehouses?
                                                                                                Moderator:
               Moderator:                                                                       Gary Koster, Partner ERNST & YOUNG LLP
               Richard C. Mendelson, Partner                                                    Panelists:
               ORRICK, HERRINGTON & SUTCLIFFE LLP                                               Nancy Lashine, President THE LASHINE GROUP
               Panelists:                                                                       Nori Gerardo Lietz, Managing Director
               Franz Colloredo-Mansfeld, Chief Executive Officer                                PENSION CONSULTING ALLIANCE, INC.
               CABOT PROPERTIES                                                                 Kenneth Wisdom, Vice President PORTFOLIO ADVISORS LLC
                                                                                                Robert Davis, Global Marketing Executive Director
                                                                                                STANDARD & POOR'S RATINGS SERVICES
    5:30        WORKING WITH JOINT VENTURES: FINDING THE                                 5:30   TAX-EXEMPT FINANCING TOOLS FOR REAL ESTATE
                PERFECT PARTNER                                                                 PROJECTS
                ✯ What are the advantages and disadvantages of joint                            ✯ Using special assessment bonds to achieve 20% returns
                ventures vs. Direct private fund investment?
                ✯ Evaluating local equity partners ✯ Investor-Fund JVs:                         ✯ Special taxing districts: What are they? ✯ What costs
                Managing expectations from your institutional partners                          may be financed with tax-exempt bonds? ✯ Which states
                Moderator:                                                                      have enabling legislation? ✯ What kind of properties are
                William G. Murray, Jr., Partner                                                 being financed by tax-exempt bonds?
                ORRICK, HERRINGTON & SUTCLIFFE LLP                                              Moderator:
                Panelists:                                                                      Ramiro Albarran, Managing Director
                Howard L. Michaels, Chairman
                CARLTON ADVISORY SERVICES                                                       BANC OF AMERICA SECURITIES LLC
                Craig Medwick, Partner CLIFFORD CHANCE LLP                                      Panelists:
                David Brush, Managing Director &                                                Karl Frey, Partner ANTARES REAL ESTATE
                Global Head of Real Estate Opportunity Fund Group                               Joseph A. Fanone, Partner
                DEUTSCHE BANK REAL ESTATE
                Lauren J. Zucker, Vice President                                                BALLARD SPAHR ANDREWS & INGERSOLL, LLP
                GOLDMAN SACHS,WHITEHALL STREET FUNDS                                            Keenan Rice, President MUNICAPITAL

6:15          Networking Cocktail Reception
7:30          Day One Concludes


✯ Day Two: Thursday, May 29, 2003 ✯
8:00          C o n t i n e n t a l B re a k fa s t C o u r t e s y O f :
8:30          DAY ONE RECAP
              Charles R. Purse, Director CSFB REAL ESTATE PRIVATE FUND GROUP
8:45          LIMITED PARTNERS' ROUNDTABLE: WHAT'S IN YOUR PORTFOLIO?
              ✯ How has your investment philosophy changed over the past year? ✯ Are you seeing promised returns? ✯ How are you feeling
              about your current investments? What would you like to see change (shorter funds, more immediate calls on capital)? ✯ Do investors
              have pent up demand? ✯ What are you doing with funds' pending capital calls? ✯ Are you rebalancing your debt/equity portfolios or
              are you upping your allocations to real estate?
              Moderator:
              Charles R. Purse, Director CSFB REAL ESTATE PRIVATE FUND GROUP
              Panelists:
              Joanne Douvas, Vice President JP MORGAN FLEMING ASSET MANAGEMENT
              Sally Haskins, Senior Research Analyst RUSSELL REAL ESTATE ADVISORS (INVITED)
              Paul S. Kramer, Investment Officer STRATEGIC INVESTMENT GROUP
4   l   To Register For This Forum, Please Go To: www.imn.org/a457/m/
9:45    LIQUIDITY THROUGH SECONDARY MARKET TRANSACTIONS
        ✯ Who is selling? Who is buying? ✯ What are you buying? ✯ Secondary transactions as an exit strategy
        ✯ Fund limited partnerships vs. Single building partnerships ✯ Valuations: Do you really get your $$ worth?
        Moderator:
        Richard W. Maine, Managing Partner LANDMARK PARTNERS, INC.
        Panelists:
        Mitchell B. Sikora, Managing Director ACI CAPITAL CO, INC.
        Maryfrances Metrick, Principal THE BLACKSTONE GROUP
        Joe Hill, Managing Director CSFB PRIVATE FUND GROUP
        Stephen Can, Managing Director & Chief Operating Officer DLJ STRATEGIC PARTNERS
        Mark Berman, Managing Partner LIQUID REALTY PARTNERS
        Paul St. Pierre, Executive Vice President WALL STREET REALTY CAPITAL



10:45   R e f re s h m e n t s C o u r t e s y O f :




         ✯ CONCURRENT SESSIONS: CHOOSE “A” OR “B” ✯
                                       -A-                                                                                               -B-
11:00    REAL ESTATE PRIVATE EQUITY                                                           11:00         INVESTING IN REAL ESTATE DEBT, MEZZANINE,
         ✯ What exactly is Real Estate Private Equity? ✯ How does                                           PREFERRED EQUITY, ETC.
         this investment strategy compare and contrast with                                                 ✯ Where are fund managers finding the strongest returns?
         traditional Private Equity? ✯The evolution of investment                                           ✯ Distressed Mortgages/Debt: Will there be loan purchases
                                                                                                            at deep discount? ✯ Investing in Real Estate CDOs
         strategies in Real Estate and the emergence of Real Estate
                                                                                                            ✯ Is CMBS headed for distress? Can it survive a downturn?
         Private Equity ✯Valuation and structuring in a Real Estate                                         ✯The impact of the current downturn on CMBS issues: Debt
         Private Equity transaction ✯ Corporate governance, decision                                        that used to have banks behind it is now securitized. How will
         making and operating a Real Estate Private Equity platform                                         the market deal with defaults? How will servicers deal with
         ✯ Liquidity and exit issues in a Private Equity platform                                           defaults? What opportunities will arise for the real estate funds?
         Moderator:                                                                                         Moderator:
         Douglas Weill, Managing Director                                                                   Robert J. Ivanhoe, Chairman, Real Estate National Practice Group
                                                                                                            GREENBERG TRAURIG LLP
         CSFB REAL ESTATE PRIVATE FUND GROUP
                                                                                                            Panelists:
         Panelists:                                                                                         Leonard W. Cotton, Chairman ARCAP REIT, INC.
         James R. Mulvihill, Founder & Principal                                                            Jeffrey B. Citrin, Managing Principal
         BLACK CREEK CAPITAL                                                                                BLACKACRE CAPITAL MANAGEMENT
         Jonathan Eilian, Managing Member JD HOLDINGS LLC                                                   Stephen M. Alpart, Managing Director
         Stephen Tomlinson, Partner KIRKLAND & ELLIS                                                        COMMERCIAL VENTURES
         Marc Halle, Principal                                                                              Stuart Green, Chief Investment Officer DENHOLTZ ASSOCIATES
                                                                                                            Frank Marro, Managing Director, Leveraged Equity
         PRUDENTIAL REAL ESTATE INVESTORS
                                                                                                            GE CAPITAL REAL ESTATE
         Barry M. Wolf, Partner                                                                             Clayton A. Scheetz, Vice President
         WEIL, GOTSHAL & MANGES LLP                                                                         OLYMPUS REAL ESTATE PARTNERS
12:00    HOTEL & LEISURE PROPERTIES                                                           12:00         LONG-TERM FINANCING ROUNDTABLE
         ✯ Are there an increasing number of bankruptcies?                                                  ✯ Exploring mezzanine finance ✯ CMBS vs.Traditional
         ✯ What has been the impact of war and recession on the                                             finance ✯ Initial (mortgage) financing: Financing your
         industry? ✯ Where are you on the spectrum: Luxury,                                                 purchase ✯ Fund perspective on dealing with lenders
         resort, limited service, etc.?                                                                     Moderator:
         Moderator:                                                                                         Steven Lichtenfeld, Partner PROSKAUER ROSE LLP
         J. Philip Rosen, Chairman, Real Estate Department                                                  Panelists:
         WEIL, GOTSHAL & MANGES LLP                                                                         Scott Liebman, Managing Director
         Panelists:                                                                                         COMMERCIAL VENTURES
         Kenneth Caplan, Associate                                                                          Thresa Joyce, Vice President
         BLACKSTONE REAL ESTATE ADVISORS                                                                    FREMONT INVESTMENT & LOAN
         Judy Miles, Partner                                                                                Richard Grimaldi, Managing Director
         HELLER EHRMAN WHITE & MCAULIFFE LLP                                                                GE CAPITAL REAL ESTATE
         Clark Hanrattie, Partner                                                                           Jeffrey Lenobel, Partner & Chairman, Real Estate Department
         OLYMPUS REAL ESTATE PARTNERS                                                                       SCHULTE ROTH & ZABEL LLP
         Rick S. Kirkbride, Partner                                                                         Gordon J. Whiting, Executive Director & Deputy Director of
         PAUL, HASTINGS, JANOFSKY & WALKER LLP                                                              Acquisitions W.P. CAREY & CO. LLC
         Frederic V. Malek, Chairman THAYER CAPITAL PARTNERS


1:00    T h e Fo u r t h A n n u a l U. S . R e a l E s t a t e O p p o r t u n i t y & P r i v a t e F u n d I nv e s t i n g Fo r u m C o n c l u d e s

                                              INFORMATION MANAGEMENT NETWORK                             Email: mail@imn.org        Tel: (212) 768-2800     Fax: (212) 768-2484   l5
   P ✯
SPlatinumO N S O R S
✯
               Information Management Network Would Like To Thank
          The Following Sponsors For Their Generous Support Of This Event


                                         Clifford Chance is a world leader in providing legal services to real estate opportunity funds.The firm is focused
                                         on delivering commercial solutions to complex transactions for investment banks, sponsors and managers in the
                                         domestic and international real estate sectors. Through our unique global network, we offer clients coordinated,
                                         full-service legal advice, no matter where their investment activities take them. We assist several of the most
significant real estate investment funds in their formation, financing, investments and day-to-day operations as well as representing clients making strategic
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in 19 countries, including six US offices.We have more than 3,700 legal advisors worldwide, 650 of whom are US-based. Nearly one-half of the Fortune
500 call on Clifford Chance for transactional, regulatory and litigation advice. We offer these clients a combination of locally qualified lawyers along with
practitioners deeply experienced in international matters in virtually all of the world’s key financial centers.



✯           Gold ✯
                       The DB Real Estate Opportunities Group ("REOG")                   entrepreneurs, providing the equity capital and financial expertise
                       is a division of DB Real Estate, the world's largest              necessary to realize their projects. REOG takes great pride in being a
                       manager of real estate equity investments, with in                reliable, responsive and trustworthy partner to local entrepreneurs, with
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DB Real Estate provides the full spectrum of investment styles, from core                profitable relationship.
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Since 1994, the group has acquired over 100 investments in 19 countries                  the globe and real-time letting and selling experience in a large number
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✯           Silver ✯
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commercial developers to investors, funds and operating companies, to                    Orlando Ave., Winter Park, Fl, 407-646-6118.

6   l   To Register For This Forum, Please Go To: www.imn.org/a457/m/
✯       Silver                 (Continued...)         ✯
                           Credit Suisse First Boston Real Estate Private              involved in four of the ten largest New York real estate transactions of 2002.
                           Fund Group (CSFB REPFG) is an extension of                  Greenberg Traurig has substantial experience in secured lending for major financial
                           the activities of CSFB's Private Fund Group. The            institutions and other opportunistic investors, ranging from first-mortgage term
group acts as placement agent for sponsors of high quality private real                loans to syndicated construction loan facilities, mezzanine financings, participating
estate investment opportunities. CSFB's REPFG seeks to attract capital                 loans and preferred equity investments. We have also handled numerous
from public and private pension funds, foundations, endowments,                        transactions involving joint ventures, mezzanine loans and preferred equity
insurance companies and other institutional and accredited investors                   investments between developer/sponsors and opportunity funds.Many of our real
worldwide. Transactions include real estate private equity funds, entity               estate lawyers have extensive hands-on experience in complex financial structures,
level transactions and asset-specified joint ventures across the risk/return           loan restructurings and workouts. We have earned a reputation for tax-exempt
spectrum on a global basis. Sponsors of these transactions include private             bond financing for major residential projects, both in New York and nationally.
investments firms, real estate operating companies and public REITs.                                                         Kirkland & Ellis regularly represents real
Credit Suisse First Boston (CSFB) is a leading global investment banking                                                     estate private equity fund sponsors and
firm serving institutional, corporate, government and individual clients.                                                    investors active across a broad range of
CSFB's businesses include securities underwriting, sales and trading,                  investment strategies. The Firm’s real estate practice focuses on the
investment and merchant banking, financial advisory services, investment               representation of major pension organizations, private equity funds, public
research, venture capital, correspondent brokerage services and online                 and private REITs and other institutional investors in transactions involving
brokerage services. CSFB is a truly global institution. It operates in more            real estate and/or related securities investments. Kirkland lawyers have
than 89 locations across more than 37 countries on six continents. The                 broad experience in the real estate, corporate and securities, tax, ERISA
Firm is a business unit of the Zurich based Credit Suisse Group, a leading             and public pension law issues presented by the formation of or
global financial services company.                                                     investment in multi-investor pooled vehicles, binary and multi-party joint
                       Greenberg Traurig’s Real Estate Department is                   ventures and direct real estate investments, both in the United States and
                       considered one of the premier practices in the United           abroad, including the acquisition of debt and equity securities in
                       States.The firm’s attorneys regularly handle sales, leases      corporations, partnerships and other operating entities. The breadth and
                       and other transactions involving significant office,            depth of the Firm’s overall private equity practice affords its real estate
residential, retail and industrial properties throughout the nation. In 2002           lawyers ready access to the most sophisticated private equity structuring
alone, we closed hundreds of real estate transactions throughout the                   and transactional techniques.
country. Our New York City-based real estate lawyers, for example, were



✯        Bronze ✯
                     Apollo Real Estate Advisors is a privately held, employee-        Led by Carlton's Chairman, Howard L. Michaels, Carlton has become one of the
                     owned, principal investment team founded in 1993 by               premier real estate financial advisors in the United States and has completed
                     William Mack. Apollo serves as the General Partner of a           billions of dollars of successful transactions in recent years. Carlton has an
series of eight diversified real estate investment funds. Apollo manages more          extensive network and very strong relationships with principals of all asset
than $3.7 billion of clients' and partners' equity in more than 200 separate           classes as well as debt and equity providers which enables Carlton to meet all
investments in portfolios and individual property assets, with a gross asset           of its clients' needs and expectations. Carlton's success is proven time and again
value in excess of $15 billion, in the United States, Europe and Japan. Apollo's       by the satisfaction of its many repeat clients who continue to retain Carlton on
business is built on the longevity and hands-on operating experience of its 35         an ongoing basis due to the value-added advisory services which Carlton
real estate professionals, located in New York, Chicago, Los Angeles and               provides on each individual transaction.
London. Opportunistic real estate is Apollo's only investment strategy. Its
                                                                                       Moreover, Carlton's success is greatly attributable to its unique ability to
clients include domestic and international retirement systems, pension plans,
                                                                                       identify, procure and coordinate the necessary capital sources that are needed
endowments, foundations, banks, insurance companies and family offices. For
                                                                                       to fulfill the requested capital structure and to consummate a transaction.
ten years, Apollo has successfully delivered strong returns to its investors by
identifying off-market and under-managed properties, often teaming with                Carlton is consistently able to secure for its clients the absolute best terms
strong local operating partners, and creating value through active asset               available in the marketplace through its extensive network of investment and
management and by developing, re-developing, operating, and financing and              commercial banks, insurance companies, pension and opportunity funds,
selling investment grade real estate.                                                  finance companies and hedge funds and private equity investors
Apollo has recently begun a mezzanine real estate investment fund with                                                               Commercial Ventures (CV) is the
GMAC Institutional Advisors as a co-sponsor. This Fund will invest in junior                                                         Merchant Banking Division of
mortgage and preferred equity positions (average targeted investment size:                                                           GMAC Commercial Mortgage
$8-15 million) in a portfolio of medium to large sized domestic properties             Corporation (GMACCM). CV's mandate is to employ GMACCM's balance
diversified by geography, type and duration. It seeks to deliver high current          sheet to provide custom solutions to the specific financing requirements of
returns during its six-year term to qualified investors.                               borrowers. Since our inception in January 2000, we have provided
                          Carlton Advisory Services, Inc. ("Carlton") is a national    approximately $1.25 billion to private and public companies for a variety of
                          real estate and loan sale advisory firm prominent in         purposes including the acquisition, repositioning or construction of
                          debt and equity placement, commercial and residential        commercial real estate, and the recapitalization of real estate operating
loan sales, residential mortgage banker merger and acquisition advisory, and           entities.These transactions range in size from $10 million to $335 million. Our
investment sales representation.                                                       goal is to provide simple but innovative financing solutions to borrowers in the
Founded in 1991, Carlton has completed in excess of $12 billion of                     form of mortgage loans, equity loans or preferred equity. When appropriate,
transactions since 1998 alone. A significant portion of Carlton's historical           we will work with other divisions within GMACCM to provide a single source
financial success is attributable to its known proficiency in advising clients on      for a transaction's entire capital structure.We are located at Wall Street Plaza,
the sale and/or financing of financial and real estate assets and its unique ability   88 Pine Street, 18th Floor, New York, New York 10005. Telephone -
to structure large, complicated transactions which result in Carlton achieving         212.898.8900.
the maximum benefit for its clients.

                                             INFORMATION MANAGEMENT NETWORK                     Email: mail@imn.org      Tel: (212) 768-2800     Fax: (212) 768-2484     l7
✯           Bronze                   (Continued...)         ✯
                      Deloitte & Touche is recognized as a preeminent provider                      Mayer, Brown, Rowe & Maw has over 1,300 attorneys, with
                      of real estate audit, tax and consulting services, with 400                   thirteen principal offices in key business and government centers
                      partners, directors and senior managers nationwide                            in the United States, Europe, and Asia. Our real estate securities
dedicated to our real estate practice. Our leadership is evident in the clients                     practice is one of the leading practices in the world with
we serve, the depth of expertise we offer, and our high visibility in industry       expertise in all of the related disciplines including real estate, corporate, tax,
affairs. Deloitte & Touche is currently serving a large percentage of global         and ERISA. Mayer, Brown, Rowe & Maw has represented a variety of clients in
opportunity funds. Our superior service has helped many of the most well             connection with a wide range of transactions involving real estate operating
known opportunity funds succeed.                                                     companies, including IPO's, real estate private equity investment funds,
                                The EY Kenneth Leventhal Real Estate Group of        mergers, acquisitions and contribution transactions, and mortgage-backed
                                Ernst & Young LLP is dedicated to serving the real   securities. For more information, please visit www.mayerbrownrowe.com.
                                estate industry. We have invested in an integrated
                                                                                                     Orrick, Herrington & Sutcliffe LLP is a full-service, 650 attorney
international team dedicated to solving the unique issues faced by real estate
opportunity and private investment funds. Our mission is to create value for our                     law firm with eleven offices in the United States, Europe and Asia.
fund clients by directly focusing our expertise in real estate tax consulting and                    Orrick's Real Estate Group, one of the leading real estate
compliance, assurance, advisory and capital markets on their critical success        practices in the United States, representing diverse clients that are active
factors. Ernst & Young is the leader in serving the real estate industry. We have    throughout the world in all phases of real estate investment, financing,
the largest real estate practice of any Big Five firm, with more than 2,300          development, and operations. We represent a large number of U.S. pension
professionals providing audit, tax and real estate advisory services to owners,      funds and pension fund advisors, including CalPERS, RREEF, Hearthstone, Lend
builders, lenders and users of real estate.We serve more than 4,000 real estate      Lease, SSR, Bristol Group, McMorgan, Wisconsin State Investment Board, LA
clients across the country and throughout the world, giving us unparalleled          County Employees Retirement Association, Oregon PERS and others. We are
experience and an in-depth understanding of the real estate industry.                actively involved in representing both the sponsors of core, opportunity and
                            Fremont Investment & Loan (“Fremont”), a subsidiary      other funds and investors in such funds. In addition, as the real estate industry
                            of Fremont General Corporation, (NYSE “FMT”) is a        has increasingly become an integral part of the national capital markets, Orrick
commercial and residential real estate lender specializing in commercial loans       has become one of the leading firms in the representation of parties involved
on mid-market properties, as well as non-conforming residential loans.               in mortgage-backed security transactions, public and private REITs, and other
Headquarters in Anaheim, California, the company originates loans in all 50          real estate structured finance transactions.
states through its nine regional offices.                                                                        Paul, Hastings, Janofsky & Walker LLP is an
The commercial real estate division provides variable rate financing on all                                      international law firm comprised of nearly 860
types of income producing properties ranging from $5 million to $50 million.                                     attorneys in eight domestic and four overseas
Fremont’s expertise in structured lending and the flexibility afforded by being      offices. The Firm's real estate department is one of the preeminent groups
a portfolio lender has allowed it to become one of the top lenders in its niche.     throughout the world, with over 160 lawyers. Paul Hastings' real estate
In 2002, the company closed over $1.3 billion in structured, commercial real
                                                                                     department was named 2002/2003 “International Real Estate Law Firm of
estate loans, and closed the year with earning assets in excess of $6 billion.
                                                                                     the Year”. The Firm also has an experienced finance and capital markets
You can contact us at: Fremont Investment & Loan, 175 North Riverview
                                                                                     practice which specializes in the representation of lenders and borrowers in
Drive, Anaheim, CA 92808, (714) 283-6500, (714) 283-6555 fax,
                                                                                     financings that encompass conventional loans and mezzanine financing, as well
www.1800fremont.com.
                                                                                     as sophisticated capital market and securitized transactions.With international
                            Haynes and Boone, L.L.P. is an international corporate   offices serving three industrialized continents, Paul Hastings is uniquely poised
                            law firm with nine offices throughout Texas,
                                                                                     to assist opportunity fund investors and members of the real estate industry.
                            Washington, D.C. and Mexico City providing a full
                                                                                     Commitment to client objectives, unparalleled responsiveness to client needs
spectrum of legal services to clients around the world. With more than 425
attorneys, Haynes and Boone is ranked among the largest law firms in the             and freedom to be creative have established Paul Hastings as an international
nation by National Law Journal. AmLaw Tech Magazine Scoreboard ranked                leader in legal services. For more information, visit us at our website:
Haynes and Boone first in law firm technology in 2001. The firm has been             www.paulhastings.com or contact Philip N. Feder at philipfeder@paulhastings.com
recognized as one of the 25 “Best U.S. Law Firms at Which to Work” (Of               regarding distressed real estate, domestic or international, Rick Kirkbride at
Counsel, 2000), one of the “Best Corporate Law Firms in America”                     rickkirkbride@paulhastings.com regarding distressed hotels and hospitality, or
(Corporate Board Member Magazine, 2002) and recipient of the Minority                Cindy Cohen at cindycohen@paulhastings.com regarding distressed debt/loan
Corporate Counsel Association’s 2002 Thomas L. Sager Award for                       workout Issues.
commitment to diversity. Haynes and Boone is one of the leading U.S. law                                                  PricewaterhouseCoopers Financial Services
firms in representing agents and arrangers of subscription secured credit                                                 Group is one of the leading providers of
facilities for real estate opportunity funds.                                        integrated professional services to major financial services organizations. The
                             Heller Ehrman's Real Estate National Practice Group     Real Estate Group, which is an integral part of our Financial Services Group,
                             represents major real estate players on projects        assists clients in achieving their goals through every phase of the real estate
throughout the United States and abroad. We routinely structure, negotiate           market and property cycles, and across a complete spectrum of
and document purchases, sales and financings across the full spectrum of real        activities.Across the board, our Real Estate professionals deal with complex
estate products, including urban office high-rise and mixed-use condominium          issues by delivering a creative and integrated approach that combines our
projects, industrial and R&D developments, single and multifamily residential        comprehensive industry experience and knowledge with innovative thinking
projects, destination resort hotels and luxury time-share facilities.
                                                                                     and the latest technology.
Beyond conventional real estate transactional expertise, our attorneys
                                                                                     Our integrated approach to problem-solving involves an international
routinely address the structural challenges of capital investment associated
with contemporary real estate deals. We counsel clients in development joint         network of real estate accounting, tax and consulting professionals who can
ventures, real estate and real estate technology operating companies, pooled         quickly mobilize to form highly qualified teams to respond to a client's
investment funds, private placements and public offerings, synthetic and             opportunity or challenge. Our team members represent a cross section of the
ground leases, incentive-based strategic alliances, mortgage loans, mezzanine        most talented professionals in accounting, tax, valuation, reorganization,
debt and hybrid debt-equity transactions and virtually any other investment-         insolvency, transaction advisory, information systems and technology and they
structure variation. We also have extensive experience dealing with the special      draw upon a shared wealth of prior experience as real estate managers,
challenges of representing pension trusts and other public or private tax-exempt     planners, developers, credit underwriters, appraisers, surveyors, advisors, asset
entities, investment funds with offshore and tax exempt investors, and REITs.        managers and tax attorneys.

8   l   To Register For This Forum, Please Go To: www.imn.org/a457/m/
                                      The efficient execution of real estate           Standard & Poor’s unmatched understanding in all structured finance markets,
                                      securities and finance transactions requires a   our absolute commitment to quality service and our long-standing reputation
unique expertise from a variety of disciplines - corporate, tax and real estate        for objectivity, openness, integrity, and credibility has made us a forward
law. Proskauer Rose LLP is a full service law firm with an almost unparalleled         thinking leader worldwide. For additional information, visit our website at
depth of experience in, and long-standing commitment to, real estate                   www.realestatefundmgr.standardandpoors.com
securities and finance. Proskauer's ever-expanding real estate securities and
finance clients include opportunity funds, public real estate companies and
REITs (publicly traded, non-traded publicly offered and private), underwriters         Torto Wheaton Research (TWR) is the premier provider of commercial real
of real estate securities, institutional lenders, real estate pension advisors and     estate data, analysis and consulting. Highly sophisticated forecasting models,
real estate venture capital firms.The Firm has been, and continues to be, at the       and proven analytical expertise, have earned the company international
forefront of real estate securities and finance developments. Proskauer
                                                                                       recognition. TWR tracks and forecasts commercial real estate supply and
attorneys have pioneered a number of structures and techniques in real estate
                                                                                       demand indicators and updates them quarterly. Data and analysis is available
securities, including the unique "paper clip REIT structure," structuring one of
the first limited partnership tender offers and creating a preferred equity            in various formats including TWR Outlook reports for office, industrial, hotel,
product to be utilized instead of mezzanine debt.                                      retail and multi-housing sectors covering 53 metros nationwide and TWR
                                                                                       Select office and industrial database access including 245,000 commercial
                                  Prudential Real Estate Investors (PREI) is a
                                  leader in the global real estate investment          properties and 1500 submarkets. TWR Outlook reports for single markets
                                  management business, offering a broad range of       and TWR Office and Industrial Select queries are available online. By
investment vehicles that invest in private and public market opportunities in the      leveraging the extensive data, information and forecasting resources available
U.S. and abroad. As of December 31, 2002, PREI manages over $21.6 billion in           at TWR, our strategic consulting offers customized services and reports.
equity in real estate on behalf of investors worldwide. Our internationally            Services range from asset-specific market assessments and individual market
recognized platform uniquely positions our investors to capitalize on our              reports to portfolio analysis and asset allocation guidance.TWR also provides
proprietary pipeline for investments, and real estate and operational expertise.       commercial real estate risk management via debt portfolio analysis. TWR is
PRICOA Property plc, which was formed in 1984 as the European real estate              an independent business unit of CB Richard Ellis, the world's leading global
investment vehicle of PREI, manages $3.1 billion as of December 31, 2002, as           real estate services company and is based in Boston. TWR is located at 200
specialist investors in real estate and corporate entities located in the UK and       High Street, 3rd Floor, Boston, MA 02110, (617) 912-5200,
throughout Europe. PRICOA Property plc is a market leader in the formation             www.tortowheatonresearch.com.
and management of specialist operating programs for major domestic and
international investors and the operation of single client accounts.                                     Walton Street Capital, L.L.C. is a Chicago-based private real
                                                                                                         estate investment company that has received total equity
                              The national real estate group of Rothstein, Kass &
                                                                                                         commitments of $1.1 billion through its prior three Funds, of
                              Co. services the needs of closely held, private and
                              institutional real estate companies. Founded in                            which Walton Street Principals committed $111 million.
1959, Rothstein, Kass & Co. has provided the traditional core services of              Walton Street recently announced the marketing of its fourth private equity
accounting, audit and tax, and today, offers risk management and insurance             real estate investment fund,Walton Street Real Estate Fund IV, L.P.The Fund is
consulting, information technology consulting, strategic business counseling,          projected to raise $600 million, including $30 million investment directly from
web-based reporting and outsourced accounting services. In addition, the firm          the Principals of Walton Street.The Fund's investment strategy will emphasize
provides services to approximately 1,000 hedge funds, investment funds and             both fee ownership and distressed debt on office properties in distressed
private equity funds. For more information, please contact Scott Farb,                 technology markets and full-service hotels adversely impacted by the slowing
principal-in-charge of the national real estate group at (310) 273-2770.               economy.The Fund will access its investments through long-term relationships
Additional information is available at www.rkco.com                                    with institutional property owners and lenders. With expected leverage of
                      Schulte Roth & Zabel LLP is a 325-lawyer firm with offices       65%-75%, Fund IV's investment objective is to achieve risk-adjusted returns
                      in New York and London. The Real Estate Department               with targeted portfolio returns of at least 20% per annum.
                      handles a broad range of complex real estate transactions
on behalf of its U.S. and foreign clients, including acquisitions and sales,                                  Founded in 1931,Weil, Gotshal & Manges is one of the
securitization, financing, foreclosures, workouts and restructuring,                                          world's leading international law firms with over 1100
development and leasing.                                                                                      lawyers, including 240 partners.The Firm serves a broad
Clients represented by the Department include major domestic and foreign               and diverse group of clients, including many of the largest and most prominent
commercial banks, investment banks and other financial institutions, real estate       corporations and government agencies around the globe, as well as many of
funds, local, national and international real estate developers, insurance             the world's leading financial institutions. Weil Gotshal has one of the world's
companies, institutional and non-institutional investors, brokers, owners and          leading private equity and opportunity fund practices with over 100 lawyers
tenants.The Department has also represented several major opportunity and              devoted exclusively to the formation of private equity and opportunity funds
pension funds, both directly and through their investment advisers, in                 and the execution of transactions by such funds.
connection with debt and equity investments in commercial real estate.                 Weil also has one of the world's leading international property practices and
                   Standard & Poor’s Structured Finance Ratings offers globally        regularly represents the major finance institutions, private equity and
                   a range of rating services, which help investors, bankers,          opportunity funds, real estate investment trusts, foreign investors, property
                   issuers and other constituents benchmark the credit quality         developers, investors and users in the full range of property and corporate real
                   of securitized assets.
                                                                                       estate transactions, including portfolio acquisitions, asset, project and structured
Our coverage includes asset-backed, mortgage-backed, and commercial                    financings, securitizations, development, leasing, and debt restructurings.
mortgage-backed securities, in addition to collateralized debt obligations, real
estate companies, REITs and homebuilders. We also provide servicer                     The Firm also has the largest, most broadly-based bankruptcy and business
evaluations, assessments of collateral managers and real estate equity                 reorganization practices in the United States. International in scope, it includes
managers, tools to track and analyze commercial and residential mortgage               attorneys in New York, Dallas, Houston, London and Miami.The Department has
risk, as well as deliver through the web, extensive on-going asset performance         been involved in virtually every major Chapter 11 reorganization case in the United
and collateral information.                                                            States and in major national and international out-of-court debt restructurings.

                                             INFORMATION MANAGEMENT NETWORK                     Email: mail@imn.org     Tel: (212) 768-2800      Fax: (212) 768-2484    l9
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money managers looking for new business leads as well as plan sponsors
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weekly issue provides news briefs, feature stories and listings covering
manager searches and selections, asset allocation strategies, personnel                                     The Institutional Real Estate Letter is a monthly
shifts, and general industry trends. For daily updates visit IMWeekly.com.                                  publication covering the $250 billion pension,
For more information, to receive a free trial, or to order, please call (888)                               foundation and endowment investment
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                     Institutional Real Estate Newsline is a weekly electronic    fund advisers, consultants and others serving this industry inside
                     newsletter. IREN provides a digest of topical news and       information on investment patterns, trends and strategies. To subscribe,
                     up-to-date information on institutional investment in real   please call 925-933-4040 and ask for client services.
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manager searches, mergers, joint ventures, research, legislation, property
transactions, development and industry conference updates.


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Nickname For Badge:                                                                                                            New York, NY 10036
                                                                                                                               EMAIL:                 mail@imn.org
Department:
                                                                                                                               (Please include your name, telephone number
Company:                                                                                                                       and the code A457)

Address:                                                                                                                       WORLD WIDE WEB: www.imn.org/a457/m/

City:                                                            State:                                Zip:                                      Information Management Network
                                                                                                                                                 is registered with the National
Telephone:                                                       Fax:                                                                            Association of State Boards of
                                                                                                                                                 Accountancy (NASBA) as a
Email:                                                           Website:
                                                                                                                                                 sponsor of continuing professional
OK TO NOTIFY ME BY: (You may select more than one method of notification)                                                      education on the National Registry of CPE
                                                                                                                               Sponsors. State boards of accountancy have final
❑ Email (Fastest Notification)   ❑ Fax          ❑ Telephone            ❑ Mail
                                                                                                                               authority on the acceptance of individual courses for
                                                                                                                               CPE credit. Complaints regarding registered
 CANCELLATION POLICY:                                                                                                          sponsors may be addressed to the National Registry
 For cancellations received in writing:                          Credit vouchers may be applied toward any future IMN          of CPE Sponsors, 150 Fourth Avenue North,
   Four weeks or more prior to the event:                        event within one calendar year of the date of the             Nashville,TN, 37219-2417. Telephone: 615.880.4200.
   Full Refund or Full Credit Voucher                            cancellation. If IMN decides to cancel any part of this       Web site: www.nasba.org
   Between two and four weeks prior to the event:                event, the Company is not responsible for covering airfare,
   $200 Cancellation Fee or Full Credit Voucher                  hotel or any other costs. Speakers, agenda, networking and    TRAVEL ARRANGEMENTS:
   Two weeks or less prior to the event:                         recreational events are subject to change without notice.     Travel Gems is the official travel agent for IMN’s Real
   No Refund; a Full Credit Voucher will be issued
                                                                                                                               Estate Opportunity & Private Fund Investing Forum. To
 SUBSTITUTION POLICY:                                                                                                          obtain the lowest rates available, please call (212) 889-
 Substitutions may be made up to the day of the event.                                                                         3131 or (800) 782-6627 (US callers outside of New
                                                                                                                               York City) and ask for Mr. Ken Glickman on ext. 109.
 PAYMENT POLICY:
 Payments can be made by American Express, Visa,                 make all checks payable to Information Management             VENUE/HOTEL INFORMATION:
 MasterCard, Diners Club, Company Check, or by wire              Network, Inc. In the memo area of the check please write      The Crowne Plaza Times Square is located at
 transfer.                                                       the name(s) of the Real Estate Opportunity & Private          1605 Broadway, New York, NY 10019 USA. Phone:
                                                                 Funds Investing Forum registrant(s) and the Code A457.        (212) 977-4000 Fax: (212) 333-7393. If you plan to
 If registering 2 weeks or less prior to the start of the
 Forum, you must submit your credit card information as a        Wire transfers should be sent to: HSBC Bank USA, 1185         stay at the The Crowne Plaza Times Square, you
 form of payment. If registering more than 2 weeks prior to      Avenue of the Americas, New York, NY 10036 USA. Be            must make your reservations directly with the hotel
 the start of the Forum and payment is not received at the       sure to use the Routing #021001088, Account Name:             by calling (212) 977-4000 and asking for “IMN’s Real
 time of registration, a credit card hold will be required to    Information Management Network, Account #639003613            Estate Opportunity & Private Fund Investing Forum”
 maintain your registration status. If payment is not received   and the Reference Code A457 along with the name(s) of         group rate. To secure reservations at the group rate,
 2 business days prior to the event date, the respective         the registrant(s). Please fax confirmation of Wire Transfer   you must make your reservations by April 25, 2003.
 credit card will be utilized as the form of payment. Please     to (212) 764-2249 Attn: IMN Accounting Dept.
                                                                                                                               SPONSORSHIP AND EXHIBITS: ATTENTION REAL
I Have Read And Accept The Cancellation, Substitution And Payment Policies Noted Above:                                        ESTATE FINANCE PRODUCT & SERVICE VENDORS
                                                                                                                               IMN's Third Annual Real Estate Opportunity &
(Signature required to process registration) __________________________________________________________                        Private Funds Investing Forum held in May of 2002
                                                                                                                               attracted over 425 key real estate investment and
METHOD OF PAYMENT (PLEASE CHECK ONE)                                                                                           finance professionals. A significant number of these
❑ American Express ❑ Visa ❑ MasterCard ❑ Diners Club ❑ Company Check ❑ Wire Transfer                                           attendees were Senior Executives of Real Estate
                                                                                                                               Funds. As an Exhibitor and/or Sponsor at the 2003
Credit Card#:                                                                                                                  Forum, you can directly network with and market to
                                                                                                                               these industry leaders. These are the executives
Exp. Date:                                                                                                                     who actively make decisions to use your products
                                                                                                                               and services to support their real estate
Name Appearing On Credit Card:                                                                                                 investments and transactions. A limited amount of
                                                                                                                               strategically located exhibition space still remains. In
Mailing Address For Credit Card:                                                                                               addition, sponsorship (which includes exhibition space)
                                                                                                                               of various social events is still available. For more
                                                                                                                               information on this important business development
Signature:                                                                                                                     opportunity, please call (212) 901-0535.

                                               INFORMATION MANAGEMENT NETWORK                           Email: mail@imn.org    Tel: (212) 768-2800        Fax: (212) 768-2484       l 11
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                                                                                                                             FINANCE & INVESTMENT        CONFERENCES
                                                                                                                                                                                         dI                   !
                                                                                                                                                                                             MN
                                                                                                                  ✯                                                        ✯
                                                                                                                                  Fourth Annual U.S.
                                                                                                                                  Fourth Annual U.S.                                           ’s
                                                                                                                                                                                                  20
                                                                                                                                                                                                    02
                                                                                                            REAL ESTATE
                                                                                                            REAL ESTATE                                                                                Ev
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                                                                                                                                                                                                           t!
                                                                                                       OPPORTUNITY & PRIVATE
                                                                                                       OPPORTUNITY & PRIVATE
                                                                                                       FUND INVESTING FORUM
                                                                                                       FUND INVESTING FORUM
                                                            (Agenda Is Updated Daily Online)
                                      www.imn.org/a457/m/




                                                                                                                                        ✯✯✯
                                                                                                    HIGH-PERFORMANCE PROPERTY INVESTMENTS IN
                                                                                               DIRECT REAL ESTATE, PRIVATE EQUITY & MERCHANT BANKING
                                                                                               DIRECT REAL ESTATE, PRIVATE EQUITY & MERCHANT BANKING
                                                                                                    May 28-29, 2003 ✯ Crowne Plaza Times Square ✯ New York City
                                                                                               Participating Real Estate Funds And Investment Advisors Include:
                                                                                               ACI CAPITAL CO, INC.                DLJ REAL ESTATE CAPITAL PARTNERS    PENSION CONSULTING ALLIANCE, INC.
                                                                                               AEW CAPITAL MANAGEMENT              DRA ADVISORS LLC                    THE PARMENTER COMPANY
                                                                                               AIG GLOBAL REAL ESTATE              EQUUS REALTY ADVISORS, INC.         PERRY REAL ESTATE PARTNERS
                                                                                               INVESTMENT CORP.                    FOG CUTTER CAPITAL GROUP, INC.
                                                                                                                                                                       PORTFOLIO ADVISORS
                                                                                               ANGELO, GORDON & CO.                GE CAPITAL REAL ESTATE
                                                                                                                                                                       THE PRAEDIUM GROUP
                                                                                               ANTARES REAL ESTATE                 GOLDMAN SACHS WHITEHALL
                                                                                               APOLLO REAL ESTATE ADVISORS         STREET FUNDS                        PRICOA PROPERTY PRIVATE EQUITY
                                                                                               BLACK CREEK CAPITAL                 GREYSTAR REAL ESTATE ADVISORS       LTD.
                                                                                                                                   ING REALTY PARTNERS                 PRUDENTIAL REAL ESTATE INVESTORS
                                                                                               BLACKACRE CAPITAL MANAGEMENT
                                                                                                                                   JP MORGAN FLEMING ASSET             RAWSON, BLUM & LEON
     25 West 45th Street, 6th Floor




                                                                                               BLACKSTONE REAL ESTATE ADVISORS
                                                                                                                                   MANAGEMENT
                                                                                               CABOT PROPERTIES                                                        RIVERSTREET REALTY ADVISORS
                                                                                                                                   LANDMARK PARTNERS, INC.
                                                                                               CARGILL FINANCIAL SERVICES CORP.    THE LASHINE GROUP                   SOROS REAL ESTATE PARTNERS
                                                                                               CONTRARIAN CAPITAL MANAGEMENT
     New York, NY 10036


                                                                                                                                   LEHMAN BROTHERS REAL ESTATE         STARWOOD CAPITAL GROUP
                                                                                               LLC                                 PARTNERS
                                                                                                                                                                       STRATEGIC INVESTMENT GROUP
                                                                                               COVENTRY REAL ESTATE PARTNERS       LIQUID REALTY PARTNERS
                                                                                                                                                                       THAYER CAPITAL PARTNERS
                                                                                               CUTWATER CAPITAL LLC                LUBERT-ADLER MANAGEMENT, INC.
                                                                                               DB REAL ESTATE                      MORGAN STANLEY REAL ESTATE FUND     WALL STREET REALTY CAPITAL
                                                                                               D E & J LEVY                        O'CONNOR CAPITAL PARTNERS           WALTON STREET CAPITAL LLC
                                                                                               DENHOLTZ ASSOCIATES                 OLYMPUS REAL ESTATE PARTNERS        WATERMARK CAPITAL PARTNERS
                                                                                                        To Register For This Forum, Please Go To: www.imn.org/a457/m/

				
DOCUMENT INFO
Description: Dlj Real Estate Capital Partners document sample