CenterPoint Announces 400,000-Square-Foot Build-to-Suit in Rochelle; Largest Build-to-Suit in I-39 Logistics Corridor.

Business Editors

OAK BROOK, Ill.--(BUSINESS WIRE)--May 20, 2004

CenterPoint Properties Trust (NYSE:CNT) today announced plans to develop a 400,000-square-foot distribution facility in Rochelle, Illinois. RC2 Corporation (NASDAQ:RCRC), a leading designer, producer and marketer of high-quality toys and collectibles, has signed a long-term lease for the building. This is the first building at CenterPoint Intermodal Center - Rochelle, which is located less than one mile from the 1,200-acre Union Pacific Global III Intermodal Facility.

Construction will begin immediately on the 400,000-square-foot build-to-suit, with completion scheduled for 4Q 2004. In addition, RC2 has a two-year option on the 18 acres of adjacent land potentially for a 400,000-square-foot building expansion. RC2 will use this facility as their primary Midwest distribution center.

"CenterPoint is pleased to have signed the first new customer in the growing I-39 corridor near Rochelle," said Mike Murphy, Sr. Vice President, Development. "After completing the UP intermodal facility in 2003, CenterPoint purchased the nearest and largest land parcel to meet future industrial property demands. As anticipated, we are seeing a variety of logistics-related customers that need intermodal access near the intersection of Interstate 39 and Interstate 80."

In March, the State of Illinois announced that it was awarding more than $1.2 million in funding for the project. The assistance package of grants and financing comes from the Illinois Department of Commerce and Economic Opportunity (DCEO) as part of Governor Blagojevich's Opportunity Returns plan, the economic development strategy designed to spur growth and create jobs for the Rock River Valley region. RC2's new distribution center will create a total of 42 new jobs, while retaining 8.

RC2 makes die cast replicas of cars and trucks, three to eight inches in length. Popular items include NASCAR-licensed replicas, Ertl tractors and American Muscle vintage cars and trucks. In March 2003, the company purchased Learning Curve International, developer of children's wooden and die-cast toys such as Thomas the Tank Engine railway systems and Lionel train systems.

About CenterPoint Properties

CenterPoint is a publicly traded real estate investment trust (REIT) and the largest industrial property company in the 1.3 billion-square-foot Chicago regional market. It currently owns and operates approximately 36 million square feet and owns or controls an additional 3,296 acres of land upon which 50 million square feet could be developed. The Company is focused on providing unsurpassed tenant satisfaction and adding value to its shareholders through customer driven management, investment, development and redevelopment of warehouse, distribution, light manufacturing buildings and logistics infrastructure. The first major REIT to focus on the industrial property sector, CenterPoint had a total market capitalization of approximately $2.8 billion as of March 31, 2004.

Statements in this release, which are not historical, may be deemed forward-looking statements under federal securities laws. There can be no assurance that future results will be achieved and actual results could differ materially from forecasts and estimates. Factors that could cause actual results to differ materially are general business and economic conditions, completion of pending acquisitions, competitive market conditions, weather, pricing of debt and equity capital markets and other risks inherent in the real estate business. Such factors and others are listed in the Company's Form 10-K or 10-Q.