Catellus Development Corp. CEO Nelson Rising talks to The Wall Street Transcript.

NEW YORK--(BUSINESS WIRE)--March 25, 1999--The Wall Street Transcript has published an in-depth interview with Nelson C. Rising of Catellus Development Corp. (NYSE:CDX), in which he talks at length about his company's future.

He states, "Catellus is a diversified real estate operating company with a vast development land portfolio which can support approximately 49 million square feet of commercial development and approximately 18,000 residential units. In addition to that, we have an income producing portfolio of 21 million square feet of buildings together with interests in joint venture and a significant portfolio of land leases. So we are a unique combination for the real estate industry: we have the platform for growth in the form of our income producing properties; we have the fuel for growth in the form of our land assets that are located in mature locations for both commercial and residential development; and we have the skills and core competencies in-house to do a full range of development activities."

He explains, "We are a C-corporation, not a REIT. So this structure gives us the flexibility to reinvest our earnings and we have no restrictions placed on us on the type of income that qualifies for REIT status. So we can be a wealth creating company that's capable of developing and holding or developing and selling and not restrained by the restrictions of a REIT structure."

Looking forward, he states, "Because we have a flexible C-Corp. structure, as opposed to a REIT structure, we can be opportunistic and create wealth for our shareholders. In addition, we believe we've minimized the risks associated with real estate. So the risk reward ratio with Catellus I think is outstanding."

To read the complete interview, go to http://www.twst.com/ceos.htm. The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations.

The Wall Street Transcript is a premier weekly investment publication serving serious long-term investors for over 35 years. The Transcript publishes industry roundtables and interviews with Wall Street analysts, money managers, and Company CEOs, and is read by top money managers, brokers, and individual investors. For subscription information call [phone].