A New Corbis: Corbis to Relocate Headquarters to Downtown Seattle; Modernized Dexter-Horton Building Provides Technologically Advanced Home To Employees, Data and Equipment.

Business Editors

SEATTLE--(BUSINESS WIRE)--Aug. 5, 2002

Corbis (www.corbis.com), one of the world's leading providers of digital images and other media, today announces that it will relocate its worldwide headquarters office from Bellevue, Wash. to a downtown Seattle historical building in the coming months.

Corbis CEO Steve Davis informed employees of the decision to relocate to renovated Dexter Horton Building, a 1924, terra cotta property at 710 Second Avenue in Seattle, named after a city founder and its first banker.

"We are tremendously excited about moving to Seattle and into the Dexter Horton building, which is a stunning space that is so right -- both emotionally and practically -- for an innovative and leading edge digital media company like Corbis," said Davis. "The extensive modernizations that have been undertaken on the building since 2000 have created a dynamic, technologically advanced space in which Corbis can build out its data center and imaging lab."

The building, owned by Goodman Financial Services, has been renovated and modernized over the last two years including the installation of state-of-the-art building systems and infrastructure, a substantial seismic upgrade and including a restoration of historical details. Corbis will be the anchor tenant, inhabiting a collaborative, open space that provides a better setting in which to convey their business of images.

The new location is in-line with Corbis' position as a leading digital media company. The new space was also chosen because of its proximity to many customers, employees and photographers as well as good access to a variety of transportation alternatives for the company's headquarters workforce.

"We're very pleased that Corbis saw the value of the renovations and modernization we started after buying this historic building from the city," said George Petrie, asset manager for Goodman Financial Services. "We reached this major lease agreement with an anchor tenant despite the tough downtown real estate market."

"Having Corbis relocate its headquarters to this culturally significant space presents a tremendous enhancement to our downtown," said Seattle Mayor Greg Nickels. "Corbis is a vibrant company that combines modern technology with world-class imagery from the past and present. It's a great fit with the newly modernized, historical Dexter Horton building."

Corbis will be the anchor tenant for the building and occupy space on the lower level through the fourth floor. The space presents a very attractive and flexible space that offers Corbis the ability to build-out a robust data center and adapt to changing company needs over time. Corbis' new office will be 70,000 square feet, nearly 10,000 square feet more than the company currently occupies. The increased footage will unburden constraints in the current data center and imaging lab, offer needed conference and training rooms and provide flexibility to accommodate an increasing workforce over time.

The Dexter Horton Building was designed by John Graham and built in 1924. It is named for a city founder and Seattle's first banker. The space Corbis will occupy includes that area that was originally built for the Dexter Horton Bank.

Goodman Carlyle Dexter Horton LLC, a partnership of Goodman Financial Services and the Carlyle Group, purchased the building from the City of Seattle in June 2000. This September will mark the completion of a major renovation and modernization that began before the Nisqually Earthquake significantly damaged the building on Feb. 28, 2001. Elements of the renovation include: seismic upgrades, high-speed elevators and cabs, historic restoration of the terra cotta, lobbies and bathrooms as well as modernization of all building systems to meet the needs of state-of-the-art technology companies. Additional amenities include a media conference center, lockers, showers and a bike room. The Corbis agreement means that all available space in the building is leased until late this year.

About Corbis(R)

Corbis is the world's leading provider of digital media, and is the place to start for creative professional, editorial, corporate and personal customers seeking an unparalleled selection of photography, fine art, footage, cartoons, sound, templates or other media for their projects. Combining advanced online technology, personal contact with customers and relations with award winning photographers and other artists, Corbis understands clients better than anyone. This enables Corbis to provide these customers with quick, easy and effective access to its high quality collections of contemporary, historical, rights managed and royalty free media all in one location and under a single brand. Corbis is also the pioneer in the industry for finding and initiating new, innovative channels for digital media such as wireless telephones, in-home digital art, educational institutions and others.

Headquartered in Seattle, the privately owned company has offices in New York, Chicago, Los Angeles, London, Paris, Tokyo, Hong Kong, Dusseldorf and other locations worldwide. For more information about Corbis and its products and services, call 800/260-0444 or 425/641-4505, fax [phone], or visit the Web site at www.corbis.com.

About Goodman Financial Services

Founded in Seattle in 1980 by John A. Goodman, Goodman Financial Services, Inc. (GFS) is an asset management firm. GFS has properties throughout the Pacific Northwest as well as Florida, Louisiana, New Mexico, Tennessee, Texas and Utah. Goodman Financial Services is an affiliate of Pinnacle Realty Management, the general partner, owner and manager of a substantial number of real estate assets.

Pinnacle Realty Management Company manages the Dexter Horton Building. Dan Dahl and David Gurry, of CB Richard Ellis, represented Goodman Financial Services, and Tim Nelson, of Nelson Realty Advisors, and Tom Robison, of Insignia Kidder Mathews, represented Corbis in the lease.