Insight Research to Produce Economic Impact Report for Alliance*Texas.

Business Editors

FORT WORTH, Texas--(BUSINESS WIRE)--Aug. 3, 2000

Hillwood has hired Insight Research to produce an economic impact report for Alliance*Texas, which includes the developments of Alliance, Circle T Ranch and Heritage. The report should be available by the end of August.

"Insight Research provides the great experience and expertise necessary for a project of this magnitude," said Mike Berry, president of Hillwood Properties, which oversees development of Alliance*Texas. "In the past we've talked about the number of jobs created, the amount of property taxes paid and the amount of private investment, but we've never done a full economic impact study that includes incomes from the employees and sales taxes from the businesses at Alliance, as well as the indirect benefit from the salaries and taxes. This report also will include a projection of the future economic impact of Alliance*Texas."

Alliance*Texas falls within four cities (Fort Worth, Haslet, Roanoke, Westlake), two counties (Denton, Tarrant) and two school districts (Northwest, Keller) in North Texas. The 9,600-acre Alliance project now houses 94 companies that have built more than 15 million square feet and created 17,000 fulltime jobs. The 2,500-acre Circle T Ranch is in the early stages of development with the 332-acre corporate campus of Fidelity Investments and the 400-acre golf community by Discovery Land Company. Work also has started on the first phase of single-family lots in the mostly-residential, 2,500-acre community of Heritage, which already includes five school sites, including a public and private high school campus, and a 50-acre master-planned city park.

"Alliance has been a tremendous economic engine for North Texas and one of the country's great public-private partnerships," said Elizabeth Morris, CEO and chief economist of Insight Research. "We look forward to quantifying that effect, as well as its future influence considering the addition of the new developments of Circle T Ranch and Heritage to make up Alliance*Texas. With 15,000 acres in a 65-square-mile area, Alliance*Texas will continue to make a huge local, national and international impact."

Since its founding in 1981, Insight Research has become nationally known for its pacesetting analytical approaches in providing economic, employment, tax revenue impact and cost/benefits analysis. The company's client lists includes public and private entities. Insight Research has provided reports for the FDIC, the U.S. Department of Energy, the U.S. Department of Housing & Urban Development, the Texas Department of Transportation, seven states, two provinces and more than 130 cities, including Fort Worth, New York, Chicago, Boston, Kansas City, Houston and Miami. The company also has worked with the Alliance*Texas-area cities of Denton and Keller. Insight Research clients also include many Fortune 500 companies, such as 3-M, American Express, AT&T, Dell, Federal Express, and Texas Instruments, as well as the National Basketball Association, the National Football League and Major League Baseball.

Hillwood (www.hillwood.com) is one step ahead of a changing world, using technology and innovation to create better places to live, work, learn and play. In addition to Alliance*Texas, Hillwood projects include the dynamic 70-acre Victory project that includes American Airlines Center in downtown Dallas; prestigious golf courses in Houston, Los Angeles and Westlake, Texas; residential communities in Dallas-Fort Worth, Maui and on the Kohala Coast of Hawaii; and a resort shopping center in Maui.