RELATED COMPANIES RECEIVES 2008 DEVELOPMENT AWARD FROM U.S. GREEN BUILDING COUNCIL, NEW YORK CHAPTER

Mayor Michael R. Bloomberg, Jeff Zucker of NBC and City Council Speaker Christine C. Quinn Also Honored at the 2008 Fall Gala

New York, NY - The United States Green Building Council (USGBC), New York Chapter, tonight honored Related Companies with the Development Award at its 2008 Fall Gala. Jeff Blau, President of Related Companies, accepted the award. Jeff Zucker, President and CEO of NBC Universal was presented with the Tenant Award, while Mayor Michael Bloomberg and Speaker Christine C. Quinn received the Government Award.

"I am very proud to accept this award on behalf of Related Companies, which has been a leader in sustainable development completing one of the nation's first green residential buildings and the Midwest's first green residential building. With $30 billion in green development completed or underway, our commitment to sustainable development can be evidenced across our luxury residential portfolio in New York, Boston, Los Angeles and Chicago, retail centers including Bronx Terminal Market and the Kingsbridge Armory in the Bronx, and our large-scale mixed-use destination developments including The Grand in Los Angeles and CityNorth in Phoenix. Related's massive community developments like the 80-acre Snowmass resort and the highly anticipated 26-acre Hudson Yards development, on Manhattan's west side, offer the unprecedented opportunity to expand our eco-conscious efforts and build green on a new scale," said Jeff Blau, President of Related Companies. "With the magnitude at which we do business, we have both the obligation and opportunity to profoundly change the market and deliver tangible environmental and social benefits."

Honorees were recognized for their outstanding leadership in the field of green building, having initiated policies with a tangible impact on the design, construction and operation of buildings, and acted as public spokespeople for the importance and benefits of green building. The USGBC New York Chapter presented the award to Related for the company's unwavering commitment to sustainable design and their ongoing commitment to greening their significant portfolio. Related was recognized for having long been associated with green building, having developed some of the earliest green residential buildings, and have recently distinguished themselves with a commitment to LEED certified development across all disciplines of their work, including mixed-use and retail holdings.

Related developed one of the nation's first green residential high-rise buildings, Tribeca Green in Lower Manhattan, and the first green building in the Midwest, 340 on the Park in Chicago. Related is currently developing several new LEED-certified residential buildings including, The Brompton, The Harrison, and Superior Ink in New York City, The Clarendon in Boston, The Century in Los Angeles, The Village in Santa Monica, and 510 Lake Shore Drive in Chicago as well as several green mixed-use, community developments and retail projects. Related has also undertaken a comprehensive initiative to upgrade the performance of its existing portfolio. Related serves on the board of directors of the World Resources Institute, is on the Council on Foreign Relations Independent Task Force on Climate Change and is partnering with the acclaimed Rocky Mountain Institute on sustainability planning and initiatives for its development in Snowmass, Colorado.

About The United States Green Building Council (USGBC): The U.S. Green Building Council (USGBC) is a non-profit organization committed to expanding sustainable building practices. USGBC is composed of more than 15,000 organizations from across the building industry that are working to advance structures that are environmentally responsible, profitable, and healthy places to live and work. The USGBC developed LEED (Leadership in Energy and Environmental Design), a voluntary, consensus-based national rating system for developing high-performance, sustainable buildings. LEED addresses all building types and emphasizes state-of-the-art strategies for sustainable site development, water savings, energy efficiency, materials and resources selection, and indoor environmental quality. LEED is a practical rating tool for green building design and construction that provides immediate and measurable results for building owners and occupants.

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RELATED COMPANIES RECEIVES 2008 DEVELOPMENT AWARD FROM U.S. GREEN BUILDING COUNCIL, NEW YORK CHAPTER
Joanna Rose 212.801.3902
10/30/2008 Mayor Michael R. Bloomberg, Jeff Zucker of NBC and City Council Speaker Christine C. Quinn Also Honored at the 2008 Fall Gala

New York, NY - The United States Green Building Council (USGBC), New York Chapter, tonight honored Related Companies with the Development Award at its 2008 Fall Gala. Jeff Blau, President of Related Companies, accepted the award. Jeff Zucker, President and CEO of NBC Universal was presented with the Tenant Award, while Mayor Michael Bloomberg and Speaker Christine C. Quinn received the Government Award.

"I am very proud to accept this award on behalf of Related Companies, which has been a leader in sustainable development completing one of the nation's first green residential buildings and the Midwest's first green residential building. With $30 billion in green development completed or underway, our commitment to sustainable development can be evidenced across our luxury residential portfolio in New York, Boston, Los Angeles and Chicago, retail centers including Bronx Terminal Market and the Kingsbridge Armory in the Bronx, and our large-scale mixed-use destination developments including The Grand in Los Angeles and CityNorth in Phoenix. Related's massive community developments like the 80-acre Snowmass resort and the highly anticipated 26-acre Hudson Yards development, on Manhattan's west side, offer the unprecedented opportunity to expand our eco-conscious efforts and build green on a new scale," said Jeff Blau, President of Related Companies. "With the magnitude at which we do business, we have both the obligation and opportunity to profoundly change the market and deliver tangible environmental and social benefits."

Honorees were recognized for their outstanding leadership in the field of green building, having initiated policies with a tangible impact on the design, construction and operation of buildings, and acted as public spokespeople for the importance and benefits of green building. The USGBC New York Chapter presented the award to Related for the company's unwavering commitment to sustainable design and their ongoing commitment to greening their significant portfolio. Related was recognized for having long been associated with green building, having developed some of the earliest green residential buildings, and have recently distinguished themselves with a commitment to LEED certified development across all disciplines of their work, including mixed-use and retail holdings.

Related developed one of the nation's first green residential high-rise buildings, Tribeca Green in Lower Manhattan, and the first green building in the Midwest, 340 on the Park in Chicago. Related is currently developing several new LEED-certified residential buildings including, The Brompton, The Harrison, and Superior Ink in New York City, The Clarendon in Boston, The Century in Los Angeles, The Village in Santa Monica, and 510 Lake Shore Drive in Chicago as well as several green mixed-use, community developments and retail projects. Related has also undertaken a comprehensive initiative to upgrade the performance of its existing portfolio. Related serves on the board of directors of the World Resources Institute, is on the Council on Foreign Relations Independent Task Force on Climate Change and is partnering with the acclaimed Rocky Mountain Institute on sustainability planning and initiatives for its development in Snowmass, Colorado.

About The United States Green Building Council (USGBC): The U.S. Green Building Council (USGBC) is a non-profit organization committed to expanding sustainable building practices. USGBC is composed of more than 15,000 organizations from across the building industry that are working to advance structures that are environmentally responsible, profitable, and healthy places to live and work. The USGBC developed LEED (Leadership in Energy and Environmental Design), a voluntary, consensus-based national rating system for developing high-performance, sustainable buildings. LEED addresses all building types and emphasizes state-of-the-art strategies for sustainable site development, water savings, energy efficiency, materials and resources selection, and indoor environmental quality. LEED is a practical rating tool for green building design and construction that provides immediate and measurable results for building owners and occupants.