CB Richard Ellis/Pittsburgh Retained as Leasing Agent for Dominion Tower; Blackstone Group and CBRE Foresee Enhancements for Premier Cultural District Building.

PITTSBURGH -- CB Richard Ellis (CBRE) / Pittsburgh, the area's largest commercial real estate firm, announced today that the company has been retained by Blackstone Group to manage the leasing activities for Dominion Tower, located at 625 Liberty Ave.

The Blackstone Group, which acquired the property in January 2005, will work with CBRE/Pittsburgh to bring a variety of enhancements to the building. The companies will explore redesigning some of the routes through the lobby of the building, moving the management office to the second floor, enhancing security capabilities, creating shared suites that will be accessible to all tenants, and redesigning areas of the building to provide enhanced functionality and usability for leaseholders. In addition, they are currently looking into expanding and upgrading the facilities available in the building's on-site health club.

"Dominion Tower is one of the most exclusive business properties within the Golden Triangle, and CB Richard Ellis is excited to work with Blackstone, a true market leader," said Jack Norris, Chairman and CEO of CBRE/Pittsburgh. "The building continues to be a first rate space for tenants. CBRE and Blackstone believe we can upgrade some of the building's features and bring a renewed luster to this important part of the Pittsburgh cultural district."

Recognized as the largest commercial real estate service provider in metropolitan Pittsburgh, CBRE/Pittsburgh has served the market for over 50 years. With 130 employees, the company's team offers extensive knowledge and experience in asset services, commercial brokerage, corporate advisory services, property and facilities management and project management. CBRE/Pittsburgh is also committed to providing clients with quality support services that encompass accounting, research, marketing and administration, as well as access to cutting-edge technology.

"We are extremely excited about this building and the things we can do to bring value for current and future tenants," said Marshall Findley, Managing Director, Blackstone Real Estate Group. "We look forward to a successful partnership with CB Richard Ellis/Pittsburgh."

"Dominion Tower offers a host of qualities and amenities that make it a great fit for those in search of superior office space," said Patrick Greene, Senior Vice President at CBRE/Pittsburgh. "We are proud to be associated with this distinctive property and to reintroduce the building to the business community. We have a unique building that is well positioned to grow its occupancy level."

"Although the city has faced its share of challenges with the central business district, the vast majority of our clients have remained committed to downtown Pittsburgh because of its location and the availability of premier office space, such as Dominion Tower," said Patrick Gruden, Associate Director at CBRE/Pittsburgh. "Dominion Tower is a true cornerstone in the cultural district, one of the most dynamic areas in the Golden Triangle, and offers a distinct space for any business."

Constructed in 1987 and nationally recognized for its striking architectural distinctions, Dominion Tower provides 32-floors of Class A office space. Located in the heart of the cultural and central business district, the 623,000 sq. ft. Texas Rose granite tower was the last major office building constructed in downtown Pittsburgh. Its impressive postmodern design by New York architects Kohn Pedersen Fox has been a staple of the city's skyline since it was completed. In addition, the building is immediately situated adjacent to two separate primary fiber optic loops that serve the downtown marketplace, allowing tenants to tap directly into high-bandwidth capabilities.

About CB Richard Ellis/Pittsburgh

CB Richard Ellis/Pittsburgh is a CB Richard Ellis partner office. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting.

Headquartered in Los Angeles, CB Richard Ellis (NYSE:CBG) is the world's leading commercial real estate services firm (in terms of 2004 revenue). Including partners and affiliates, CB Richard Ellis has more than 300 offices across 50 countries around the world. For more information, visit www.cbre.com.

About The Blackstone Group

The Blackstone Group, a private investment and advisory firm with offices in New York, Atlanta, Boston, London, Hamburg, and Paris, was founded in 1985. The firm has raised a total of approximately $32 billion for alternative asset investing since its formation. Over $14 billion of that has been for private equity investing, including Blackstone Capital Partners IV, the largest institutional private equity fund ever raised at $6.45 billion. In addition to Private Equity Investing, The Blackstone Group's core businesses are Private Real Estate Investing, Corporate Debt Investing, Marketable Alternative Asset Management, Corporate Advisory, and Restructuring and Reorganization Advisory. For more information please visit www.blackstone.com.