Hertz Acquires Gateway Center in Pittsburgh

LOS ANGELES - DECEMBER 10, 2004 -  The Hertz Investment Group announced today that it has acquired the Gateway Center office complex in downtown Pittsburgh from Trizec Properties.  The project consists of four high rise office buildings with approximately 1.5 million square feet.  The buildings are set on a 10+ acre park like plaza that includes mature trees, extensive lawns, benches and paved walkways.  Developed by Equitable Life, it is one of the most physically attractive and recognizable projects in Pittsburgh.

Gateway Center's landmark status is clearly linked to its location.  The property is dominantly sited at the gateway to the downtown area of Pittsburgh.  Unmistakably recognizable by their stainless steel and glass façade, the buildings provide a prestigious address for over 160 prominent tenants, including Dollar Bank and KDKA (CBS Broadcasting).

"We are excited about entering the Pittsburgh market",  Judah Hertz, CEO and President of The Hertz Investment Group said.  "Pittsburgh fits the profile of our current investment strategy very well, and I am confident we will continue to expand our presence in the City".

The Hertz Investment Group is a fully integrated national real estate investment company

specializing in the acquisition, marketing and management of exceptional properties throughout the country. Its properties include prominent high-rise office buildings, international market centers for fashion and jewelry, historically significant landmark properties, luxury hotels, high profile theaters, large retail centers and multi-family residential properties.

For Gateway Center leasing information please contact Gillian Franklin, Sr VP of The Hertz Investment Group at 412 392-6060.