MAYOR, COUNCILMAN AND LOCAL GROCER TO BE HONORED
WITH "PARTNERS IN RENOVATION" AWARD

Special Ceremony Also Celebrates Grand Opening of The Bingham,
Downtown Cleveland's Largest and Most Recent Historic Housing Renovation

CLEVELAND, OH - September 30, 2004 - Walk into any City planning meeting these days and you're likely to hear about Cleveland's need for more attractive downtown housing options that will lure people back to the City and spur retail and business growth.

Well that vision of a thriving, prosperous downtown Cleveland is about to get a major boost with the grand opening of The Bingham, downtown Cleveland's largest and most recent renovation effort. The Bingham, with its 340 loft-style, luxury apartments is positioned to offer Clevelanders a distinctive, sophisticated urban lifestyle that, until now, has only been available in cities with larger downtown populations.

The Bingham, which was originally home to the W. Bingham Company, a leading hardware manufacturer, could not have become a reality, however, without the help of many local "heroes" who helped champion the extensive renovation project. Bingham Burnside LLP, the Chicago-based developer responsible for bringing The Bingham back to life, credits current local government officials, community agencies, local financial institutions and several key residents for making this project happen in Cleveland.

MAYOR, COUNCILMAN AND LOCAL GROCER TO BE HONORED
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"We could have made the investment and made this type of project happen almost anywhere in the Midwest," noted Neal Singer, principal with Bingham Burnside. "We looked at several nearby cities, including Pittsburgh, but decided on Cleveland because of the ease of doing business here. The local Administration and key agencies made the decision to invest in Cleveland an easy one. We are very grateful for the reception we have received. This extensive renovation could not have happened without a lot of help."

In order to formally thank those people directly responsible for The Bingham's success and recognize the efforts and progress of The City of Cleveland, Bingham Burnside is presenting special "Partners in Renovation" awards to three local individuals during a special awards ceremony hosted at The Bingham's spectacular penthouse community room, located at 1278 West Ninth Street, on Thursday, September 30, between 5:00 and 7:00 PM. Award recipients include Mayor Jane Campbell, Councilman Joe Cimperman and Costas Mavromichalis, the local grocer who is demonstrating his confidence in The Bingham by opening a long awaited downtown neighborhood market and deli inside the apartment complex.

"We wanted to recognize Mr. Mavromichalis's entrepreneurial spirit," explained George "Bud" Arquilla, Jr., a principal with Bingham Burnside. "He is truly a pioneer willing to invest in this downtown living concept at a very early stage. Until now, downtown Cleveland has lacked a major grocery presence. Yet, this is exactly what is needed to support downtown living. One of the reasons The Bingham has been so successful in its leasing efforts to date is because of the promise of Constantino's Market and Deli."

Constantino's will occupy nearly 10,000 square feet of retail space inside The Bingham, effective November 1, 2004. In addition to basic grocery items, the market and deli will serve specially prepared foods, an array of beer and wine, fresh bakery and even Sushi.

Leasing interest in The Bingham by local residents and transferees has remained strong, partially as a result of the convenience of the nearby deli and market. In fact, all of the building's penthouses and one-bedroom units are already leased. In addition, Bingham Burnside

MAYOR, COUNCILMAN AND LOCAL GROCER TO BE HONORED
ADD TWO

credits the building's many unique amenities as a reason for its continued success in Cleveland.

"We planned this project very carefully to ensure we provided those services and features which had the most value to prospective tenants," said Singer. "A key selling point is our oversized fitness center. With nearly 4,000 square feet, this fully equipped fitness center is the largest of its kind inside any condo or apartment building in Northeast Ohio. We also offer residents T1 internet connections and free basic cable, natural maple floors, original brick walls, new energy-efficient thermopane windows, a large game room and concierge services. As an added incentive, we have an open door policy for pets."

The Bingham, including all of its amenities, will be on public display during the building's official grand opening, which coincides with the special "Partners in Renovation" awards ceremony on September 30. Nearly 100 of Cleveland's politicians, executives and media leaders are expected to be in attendance.

As part of the ceremony, the Mayor, along with representatives from Bingham Burnside, will unveil a custom historical plaque that traces the evolution of The Bingham building from its origin as a hardware manufacturing headquarters to the luxury apartment community it is today.

For more information about The Bingham, call 216/579-4000 or visit www.thebingham.com. Two-bedroom urban townhomes and two-story suites with breathtaking city, lake and river views are still available.