Dundee Realty Corp. CEO Michael Cooper Talks to The Wall Street Transcript.

NEW YORK--(BUSINESS WIRE)--May 13, 1999--

The Wall Street Transcript has published an in-depth interview with Michael J. Cooper of Dundee Realty Corp. (Toronto:D), in which he talks at length about his company's future.

He says, "Dundee Realty is a Canadian-based real estate company. We focus on non-trophy class A and class B office, industrial properties in the major Canadian markets: Montreal, Ottawa, Toronto, Edmonton and Calgary. We've grown from about $5 million of assets in April of 1996 to just over $1 billion today."

He explains, "We were just were added to the TSE 300. There are about 12 real estate companies in the TSE 300."

He declares, "We found that rental rates in the trophy buildings have risen quite rapidly, but in the kind of buildings we have, we're still looking at $8 and $10 rents. So the spread between the cost of occupying space in our buildings might be $10 in rent and $13 or $14 in operating costs. Therefore, it would be $24, $25 in total. In these other buildings, operating costs alone are $25, $26, and then the rents are maybe $28, $30. So there's this huge spread in cost. In addition, we're finding more and more tenants are less interested in prestige buildings and more interested in the functionality of the buildings and their overall occupancy cost."

Looking forward, he states, "We think that rental rates across the board are probably going to see gradual increases. It's our anticipation that the types of buildings that we own may have faster growth in the rental rates."

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. Read free excerpts from our Q&A Interviews of analysts from top brokerage houses, money managers and CEOs at http://www.twst.com.

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].