ADVISORY/Innovative Silicon Valley Apartments Open on October 31.

Radio/TV News Assignment Editors & Real Estate/City Editors

ADVISORY...for Tuesday (Oct. 31)

--(BUSINESS WIRE)

EVENT:      Official opening ceremonies for Estancia, an innovative
            450-unit apartment complex in Silicon Valley designed to
            help ease severe housing shortages in Santa Clara, will
            include top city officials, business and community
            leaders.

WHAT:       The first major apartment community of its kind in
            California, the $67 million project was conceived by Bay
            Area-based developer A. F. Evans Company in conjunction
            with local public and private agencies to provide a unique
            mix of high-end, affordable and developmentally disabled
            units.

WHEN:       Tuesday, October 31, 2000, at noon.

WHERE:      Estancia Community Center at 1650 Hope Drive -- between
            Lick Mill Road on the east and Lafayette Street on the
            west -- south of Tasman Drive and north of the Montague
            Expressway. The center is located in the middle of the
            block, at the main north entrance to the complex, with a
            large parking area in front.

MAP:        http://www.EstanciaApartments.com./images/estanciamap.gif

WHO:        Event participants include Santa Clara Mayor Judy Nadler,
            Vice Mayor Rod Diridon, City Manager and Executive
            Director for the Santa Clara Redevelopment Agency Jennifer
            Sparacino, GE Capital Vice President Mark Stevens, HOPE
            Rehabilitation Services President Joe Campbell, Housing
            Choices Coalition Executive Director Kris McCann, State of
            California Asset Planning Chief John Brooks and A. F.
            Evans Company President Arthur Evans.

KEY FACTS:  Upscale amenities and design features are included in all
            apartments. A model apartment is available for tour near
            the community center.

            The majority of units will be marketed to employees of
            neighboring high-tech companies -- including Sun
            Microsystems, Cisco Systems, Intel, Philips and Novell.
            Market rate rents: $2,400 for one bedroom to $3,550 for
            three bedrooms.

            However, 90 units are reserved for households earning no
            more than one-half of the area's median income.
            Below-market rate rents: $825 for one-bedroom to $1,012
            for three bedrooms.

            In addition, 23 affordable apartments are reserved for
            persons with developmental disabilities.

KEY PARTIES: A. F. Evans Company (developer); KeyBank (construction
            lender); GE Capital (equity investor); Santa Clara
            Redevelopment Agency (permanent lender); HOPE
            Rehabilitation Services (lessor and service provider);
            Housing Choices Coalition (service provider); State of
            California (land owner); The Steinberg Group (architects);
            Ultimate Interiors (interior design and space planning);
            Robert LaRocca & Associates (landscaping).