Apollo Real Estate LP Announces Henry W. Haunss, Jr., Joins as a Partner.

Business Editors/Real Estate Writers

NEW YORK--(BUSINESS WIRE)--April 22, 2003

Apollo Real Estate Advisors LP announced today that Henry W. ("Buddy") Haunss, Jr., has joined the firm as a partner.

Mr Haunss will concentrate his efforts on sourcing new acquisitions, fund raising and other corporate opportunities.

Mr. Haunss previously was a Managing Director of UBS Realty Investors LLC and head of real estate investments in the United States for non-US clients. Mr. Haunss was a member of the firm's investment committee and responsible for the development and implementation of the business strategy in the selection, negotiation, acquisition, management and disposition of real estate for UBS' Realty Investors LLC non-US clients. He held that position for over 20 years.

Mr. Haunss is a member of the Board of Directors of the Association of Foreign Investors in U.S. Real Estate, a trustee of New York City's Citizen Budget Commission and New York University's Real Estate Education Advisory Board, and an active member of the Urban Land Institute's Urban Development and Mixed Use Council.

He has completed in excess of $10 billion of residential and commercial transactions over the past 30 years.

Mr. Haunss is a licensed real estate broker, and holds the Certified Property Manager (CPM) and Counsel of Real Estate (CRE) designations. He is a graduate of C.W. Post College with a degree in accounting.

Apollo Real Estate Advisors LP

Apollo Real Estate Advisors was founded in 1993 by William Mack. Apollo currently serves as the General Partner of a series of eight diversified real estate investment funds. The firm manages more than $3.7 billion of clients' and partners' equity in more than 200 separate investments in portfolios and individual property assets in the United States, Europe and Japan, with a gross asset value in excess of $15 billion Apollo's business is built on the longevity and hands-on operating experience of its 35 real estate professionals, located in New York, Chicago, Los Angeles and London. Its clients include domestic and international retirement systems, pension plans, endowments, foundations, banks, insurance companies and family offices. For ten years, Apollo has successfully delivered strong returns to its investors by identifying off-market and under-managed properties, often teaming with strong local operating partners, and creating value through active asset management and by developing, re-developing, operating, and financing and selling investment grade real estate.