Trizec Sets Date for Special Stockholders Meeting.

CHICAGO -- Trizec Properties, Inc. (NYSE:TRZ) (the "Company") today announced that it has scheduled a special meeting of its stockholders to adopt the previously announced merger agreement that the Company and Trizec Holdings Operating LLC entered into on June 5, 2006 with Trizec Canada Inc. and affiliates of Brookfield Properties Corporation. The special meeting will be held on Tuesday, September 12, 2006 at 10:00 a.m., Central Time, at The Ritz Carlton, 160 East Pearson Street, The Versailles Suite, Chicago, Illinois.

Holders of Trizec Properties, Inc. common stock of record on the close of business on August 3, 2006, the record date for the special meeting, will be entitled to vote at the meeting.

Additional Information About the Merger and Where to Find It

This communication is a result of the proposed merger transaction involving Trizec and affiliates of Brookfield Properties Corporation. In connection with the transaction, Trizec has filed a definitive proxy statement with the Securities and Exchange Commission and the final proxy statement will be mailed to Trizec stockholders. Stockholders are urged to read the proxy statement carefully and in its entirety because it contains important information about the proposed transaction.

The proxy statement and other documents are or, when filed, will be available free of charge at the Securities and Exchange Commission's Internet Web site, www.sec.gov. The proxy statement and other pertinent documents, when they become available, also may be obtained for free at Trizec's Web site, www.trz.com, or by contacting Dennis Fabro, Senior Vice President, Investor Relations, telephone [phone]. Trizec and its directors and officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect to the proposed transactions. Information regarding Trizec's directors and executive officers is detailed in its proxy statements and annual reports on Form 10-K, previously filed with the Securities and Exchange Commission, and the proxy statement relating to the proposed transactions.

Trizec Properties, Inc., a real estate investment trust ("REIT") headquartered in Chicago, is one of the largest owners and operators of commercial office properties in the United States. The Company has ownership interests in and manages a high-quality portfolio of 61 office properties totaling approximately 40 million square feet concentrated in the metropolitan areas of seven major U.S. markets. The Company trades on the New York Stock Exchange under the symbol TRZ. For more information, visit Trizec's Web site at www.trz.com or call toll free at [phone].