ADVISORY/Earvin ``Magic'' Johnson News Conference; Earvin ``Magic'' Johnson and Partners To Share Initial Plans for Transamerica Center Wednesday, April 23 at 10:00 a.m.

Business Editors/City/Assignment Desks/Real Estate Writers

ADVISORY...for Wednesday (April 23)

--(BUSINESS WIRE)

    Site Under Consideration as Home for Interim LAPD Headquarters

WHAT:     Development partners the Canyon-Johnson Urban Fund and New
          Pacific Realty will hold a news conference and lead a tour
          of the Transamerica Center Tower complex to discuss the
          purchase, development and potential use of the property.
          One of the three buildings is under consideration by the
          City of Los Angeles as the interim LAPD headquarters during
          construction of the new Parker Center.

          The Canyon-Johnson Urban Fund, L.P. and partner New Pacific
          Realty Corporation are purchasing the Tower and two adjacent
          mid-rise office buildings in the South Park area of downtown
          Los Angeles in an effort to revitalize the 12-acre property
          and transform it into a premier residential and office
          complex in the City's urban core.

WHO:      Earvin "Magic" Johnson, Managing Director, Canyon-Johnson
           Urban Fund
          Bobby Turner, Co-Chair, Canyon-Johnson Urban Fund
          Ken Lombard, Co-Chair, Canyon-Johnson Urban Fund
          David Margulies, CEO, New Pacific Realty Corporation

WHEN:     Wednesday, April 23, 2003
          10:00 AM - 11:00 AM

WHERE:    Transamerica Center, Sunset Room, 32nd Floor
          1150 South Olive Street. Entrance on Olive.
          Los Angeles, CA 90015

Note: Development partners, including Earvin "Magic" Johnson will
be available for interviews with the media about the site and its
potential uses.