Agreement With Cisco Systems to Provide Cisco's `Internet Home' to Playa Vista Residents and Businesses.

Business Editors & High-Tech Writers

LOS ANGELES--(BUSINESS WIRE)--July 26, 2000

Statement by Peter B. Denniston, President, Playa Vista:

Playa Vista is proud to be working with Cisco Systems, Inc., to make its "Internet Home" a reality by making it available to our residents and businesses. Through this and other initiatives, Playa Vista continues to build a community that will be among the nation's leaders in utilizing technology to enhance everyday life while keeping the systems so simple to use that people will not need a manual or help line.

Playa Vista's "smart homes" will provide practical and immediate benefits to those who work and live in this vibrant new community, and represent an unprecedented use of technology to provide home conveniences. Every home, office, kiosk and retail outlet in Playa Vista will be pre-wired for broadband Internet access and to ensure forward compatibility as Internet capabilities evolve in the future. At the same time, like the best in new technology, these enhancements will be so user friendly that people will hardly know they are there.

As Playa Vista is built, we will continue to look for ways to add value to our residents and businesses. We are truly building a community for the 21st century and are looking forward to continuing partnerships with such like-minded and cutting-edge companies as Cisco. Watch for other announcements over the next few months as we move forward.

Background

Today in San Jose, Cisco unveiled its Internet Home, a 1,700 square foot showcase of the benefits of a high-speed, always-on Internet connection that enables an array of consumer devices and appliances in the home.

High-speed Internet connectivity throughout the home allows consumers to conveniently conduct everyday activities online such as shopping for groceries, listening to music or sending family photos to grandparents.

In the Cisco Internet Home, the refrigerator knows when the door is left ajar and can notify the homeowner via a Web pad device; enables a child to receive homework help from a parent at work or traveling; or control the lights, music and security system with the touch of a button. Internet Home will be available to all Playa Vista residents.

Playa Vista Phase One is fully entitled and will provide up to 3,246 new residences in an array of housing types, and create thousands of jobs. The project is under construction south of Marina del Rey on a former industrial and agricultural site neighboring the Ballona Wetlands.

It will include a mix of residential housing from affordable to luxury, plus office and commercial space, all set next to a restored wetland and wildlife preserve. More than half of the project will be devoted to open space, including restoration and expansion of the Ballona Wetlands.