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<DIV align=center><SPAN class=689441113-25042003><EM><STRONG><FONT face=Arial
size=4></FONT></STRONG></EM></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><EM><STRONG><FONT face=Arial
size=4></FONT></STRONG></EM></SPAN><SPAN
class=689441113-25042003><STRONG><EM><FONT face=Arial
size=4></FONT></EM></STRONG></SPAN></DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG><EM></EM></STRONG></FONT></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN></DIV>
<DIV align=left><SPAN class=689441113-25042003><STRONG><EM><FONT face=Arial
size=4>Greetings!</FONT></EM></STRONG></SPAN></DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003></SPAN><SPAN class=689441113-25042003><FONT
face=Arial><FONT size=2></FONT> </DIV>
<DIV align=left><BR></DIV></FONT><SPAN class=689441113-25042003></SPAN>
<DIV align=left><FONT face=Arial><FONT size=4>The Alumni Reunion Weekend is
planned for Thursday, September <SPAN class=689441113-25042003>29</SPAN>th
through<SPAN class=689441113-25042003> </SPAN>Saturday, October <SPAN
class=689441113-25042003>1st</SPAN>. <SPAN
class=689441113-25042003>The theme for the weekend is " Real Estate Theory vs.
Practice" </SPAN>To register for the weekend's activities, visit the<SPAN
class=689441113-25042003> </SPAN></FONT></FONT><FONT size=4><FONT
face=Arial><SPAN class=689441113-25042003>Center's Alumni Web
Page</SPAN>: </FONT><A
href="http://web.mit.edu/cre/alumni/index.html"><FONT
face=Arial>http://web.mit.edu/cre/alumni/index.html</FONT></A></FONT><STRONG><FONT
face=Arial size=4>.</FONT></STRONG></DIV>
<DIV align=left><FONT face=Arial size=4></FONT> </DIV>
<DIV align=left><STRONG><FONT face=Arial size=4>The schedule for the weekend is
as follows:</FONT></STRONG></DIV>
<DIV align=left><FONT face=Arial size=4></FONT> </DIV>
<DIV align=left><FONT face=Arial><BR></FONT></DIV>
<DIV align=left><STRONG><FONT size=4><FONT color=#0000ff><FONT
face=Arial>Thursday, September <SPAN class=689441113-25042003>29th</SPAN>,
200<SPAN class=689441113-25042003>5</SPAN> -- <SPAN
class=689441113-25042003>Theory vs.
Practice</SPAN></FONT></FONT></FONT></STRONG></DIV>
<DIV align=left><FONT face=Arial size=4></FONT> </DIV>
<DIV align=left><STRONG><FONT size=4><FONT
face=Arial>*<X-TAB> </X-TAB>11am - 1pm
-- <SPAN class=689441113-25042003>WELCOME LUNCH & </SPAN>OVERVIEW OF
THE <SPAN class=689441113-25042003>INDUSTRIAL
SECTOR</SPAN></FONT></FONT></STRONG></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><FONT face=Arial>P<SPAN class=689441113-25042003>resented by AMB Property
Corporation</SPAN></FONT></DIV>
<DIV><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003></SPAN><FONT face=Arial>L<SPAN
class=689441113-25042003>ocation: E51-Tang Center, Wong
Auditorium<BR></SPAN><BR></FONT></DIV></BLOCKQUOTE>
<DIV dir=ltr align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG>* 1pm - 2:30pm --
REAL ESTATE MARKETS, Prof. Bill Wheaton</STRONG></FONT></SPAN></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV dir=ltr align=left><SPAN class=689441113-25042003><FONT size=2><FONT
size=3><FONT face=Arial>L<SPAN class=689441113-25042003>ocation:
E51-Tang Center, Wong
Auditorium</SPAN></FONT></FONT></FONT></SPAN></DIV></BLOCKQUOTE><SPAN
class=689441113-25042003><FONT size=2><FONT size=3><SPAN
class=689441113-25042003></SPAN></FONT>
<DIV dir=ltr style="MARGIN-RIGHT: 0px" align=left><BR></FONT></SPAN><FONT
size=4><FONT
face=Arial><STRONG>*<X-TAB> <SPAN
class=689441113-25042003>2:30</SPAN>pm - <SPAN
class=689441113-25042003>3:30</SPAN>pm -- <SPAN
class=689441113-25042003>TOUR #1</SPAN> -- M</STRONG><SPAN
class=689441113-25042003><STRONG>IT's Brain and Cognitive Science Building,
</STRONG>limit 15 people, <STRONG> (</STRONG><A
href="http://web.mit.edu/evolving/projects/cogsci/updates.html">http://web.mit.edu/evolving/projects/cogsci/updates.html</A>)</SPAN></FONT></FONT></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV dir=ltr style="MARGIN-RIGHT: 0px" align=left><FONT size=3><SPAN
class=689441113-25042003>
<DIV dir=ltr align=left><SPAN class=689441113-25042003><FONT size=2><FONT
size=3><FONT face=Arial>Meeting Place<SPAN class=689441113-25042003>:
E51-Tang Center, Wong
Auditorium</SPAN></FONT></FONT></FONT></SPAN></DIV></SPAN></FONT></DIV></BLOCKQUOTE>
<DIV dir=ltr align=left><FONT face=Arial size=4><STRONG><SPAN
class=689441113-25042003></SPAN></STRONG></FONT> </DIV>
<DIV dir=ltr align=left><STRONG><SPAN
class=689441113-25042003></SPAN></STRONG><STRONG><FONT face=Arial><FONT
size=4>*<X-TAB> </X-TAB>5pm - 7pm --
REAL DEAL<SPAN class=689441113-25042003>S</SPAN> with Tony Ciochetti, Chairman
-- <SPAN class=689441113-25042003>Lessons Learned from Deals gone
Astray</SPAN></FONT></FONT></STRONG></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><FONT size=4><SPAN class=689441113-25042003>
<DIV><FONT size=3><FONT face=Arial>P<SPAN class=689441113-25042003>resented by
AMB Property Corporation</SPAN></FONT></FONT></DIV>
<DIV><FONT size=3><FONT face=Arial><SPAN
class=689441113-25042003></SPAN></FONT></FONT> </DIV>
<DIV><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003></SPAN><FONT size=3><FONT face=Arial>L<SPAN
class=689441113-25042003>ocation: Center for Real Estate Lecture Hall,
W31-301</SPAN></FONT></FONT></DIV>
<DIV><FONT face=Arial size=3><SPAN class=689441113-25042003><EM>Refreshments
will be served</EM></SPAN></FONT></DIV></SPAN></FONT></DIV></BLOCKQUOTE>
<DIV dir=ltr align=left><FONT face=Arial><BR></FONT></DIV>
<DIV align=left><STRONG><FONT face=Arial><FONT
size=4>*<X-TAB> </X-TAB>7:30pm -
9pm -- AACRE Reception for alums, current students,<SPAN
class=689441113-25042003> </SPAN></FONT></FONT></STRONG><STRONG><FONT face=Arial
size=4>faculty, and staff</FONT></STRONG></DIV>
<DIV align=left><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV align=left><FONT size=2>
<DIV><FONT size=4><SPAN class=689441113-25042003>
<DIV><FONT face=Arial size=3><SPAN class=689441113-25042003>Sponsored by the
Alumni/ae Association of the Center for Real Estate</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=3><SPAN
class=689441113-25042003></SPAN></FONT> </DIV>
<DIV><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003></SPAN><FONT size=3><FONT face=Arial>L<SPAN
class=689441113-25042003>ocation: Middlesex, 315 Massachusetts Avenue,
Cambridge</SPAN></FONT></FONT></SPAN></FONT></FONT></DIV></DIV></DIV></BLOCKQUOTE><FONT
face=Arial>
<DIV align=left><BR></DIV></FONT>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px"><FONT
face=Arial></FONT> </BLOCKQUOTE>
<DIV align=left><STRONG><FONT face=Arial><FONT color=#0000ff><FONT
size=4>Friday, <SPAN class=689441113-25042003>September 30, 2005
</SPAN> -- <SPAN class=689441113-25042003> </SPAN><SPAN
class=689441113-25042003>Practice vs.
Theory</SPAN></FONT></FONT></FONT></STRONG></DIV>
<DIV align=left><FONT face=Arial><STRONG><FONT color=#0000ff><FONT size=4><SPAN
class=689441113-25042003></SPAN></FONT></FONT></STRONG><BR> </DIV></FONT>
<DIV align=left><FONT face=Arial><STRONG><FONT
size=4>*<X-TAB> </X-TAB>8am - 10am --
AACRE/NEWIRE <SPAN class=689441113-25042003>Symposium</SPAN> --
</FONT></STRONG><BR></FONT></DIV>
<DIV align=left><FONT face=Arial size=4><BR>To register for this event, contact
NEWIRE using the information below:</FONT></DIV>
<DIV align=left><FONT face=Arial><BR></FONT></DIV>
<DIV align=left><FONT face=Arial size=4>New England Women in Real
Estate</FONT></DIV>
<DIV align=left><FONT face=Arial size=4>Telephone 617-247-2346 </FONT></DIV>
<DIV align=left><FONT face=Arial size=4>Fax: 617-267-7612 </FONT></DIV>
<DIV align=left><FONT face=Arial size=4>E-Mail <</FONT><A
href="mailto:newire@harronandassociates.com" EUDORA="AUTOURL"><FONT face=Arial
size=4>mailto:newire@harronandassociates.com</FONT></A><FONT face=Arial
size=4>></FONT></DIV>
<DIV align=left><FONT size=4><A
href="mailto:newire@harronandassociates.com"><FONT
face=Arial>newire@harronandassociates.com</FONT></A><FONT face=Arial>
</FONT></FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV align=left><FONT face=Arial><BR></FONT></DIV>
<DIV align=left><STRONG><FONT face=Arial
size=4>*<X-TAB> </X-TAB>Noon - 1<SPAN
class=689441113-25042003>:45</SPAN>pm --<SPAN class=689441113-25042003>
Entrepreneurship </SPAN>Luncheon -- Center for Real
Estate</FONT></STRONG></DIV>
<DIV align=left><FONT face=Arial><BR></FONT></DIV>
<DIV align=left><FONT size=4>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><FONT size=3><FONT face=Arial>P<SPAN
class=689441113-25042003>resenters:</SPAN></FONT></FONT></DIV>
<DIV><FONT face=Arial size=3><SPAN
class=689441113-25042003> Robert
Danziger, Founder, Northland Development</SPAN></FONT></DIV>
<DIV><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003></SPAN><SPAN class=689441113-25042003></SPAN><FONT
face=Arial size=3><SPAN
class=689441113-25042003> Ken Morse,
Managing Director, Sloan Entrepreneurship Center</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=3><SPAN
class=689441113-25042003></SPAN></FONT> </DIV>
<DIV><FONT size=3><SPAN class=689441113-25042003></SPAN>
<DIV><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003></SPAN><FONT size=3><FONT face=Arial>L<SPAN
class=689441113-25042003>ocation: Center for Real Estate Lecture Hall,
W31-301</SPAN></FONT></FONT></DIV></DIV></FONT></BLOCKQUOTE></FONT><BR></DIV>
<DIV align=left><FONT size=4><FONT
face=Arial><STRONG>*<X-TAB> <SPAN
class=689441113-25042003>2:00</SPAN>pm - <SPAN
class=689441113-25042003>3:00</SPAN>pm -- <SPAN
class=689441113-25042003>TOUR #2</SPAN> -- M</STRONG><SPAN
class=689441113-25042003><STRONG>IT's Brain and Cognitive Science Building,
</STRONG>limit 15 people, <STRONG> (</STRONG><A
href="http://web.mit.edu/evolving/projects/cogsci/updates.html">http://web.mit.edu/evolving/projects/cogsci/updates.html</A>)</SPAN></FONT></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV dir=ltr style="MARGIN-RIGHT: 0px" align=left><FONT size=3><SPAN
class=689441113-25042003>
<DIV dir=ltr align=left><SPAN class=689441113-25042003><FONT size=2><FONT
size=3><FONT face=Arial>Meeting Place<SPAN class=689441113-25042003>:
Center for Real Estate, 3rd
Floor</SPAN></FONT></FONT></FONT></SPAN></DIV></SPAN></FONT></DIV></BLOCKQUOTE>
<DIV dir=ltr align=left><FONT face=Arial></FONT></FONT><STRONG><FONT
size=4></FONT></STRONG> </DIV>
<DIV dir=ltr align=left><FONT size=4><STRONG><FONT
face=Arial>*<X-TAB> </X-TAB>3:<SPAN
class=689441113-25042003>30</SPAN> - <SPAN
class=689441113-25042003>5:30</SPAN> -- The State of the
Center</FONT></STRONG><SPAN class=689441113-25042003><FONT face=Arial><STRONG>
Webcast<BR></STRONG>If you cannot attend but would like to tune in to the
webcast, visit the Center's URL: web.mit.edu/cre</FONT></SPAN></FONT></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><FONT size=3><FONT face=Arial>P<SPAN
class=689441113-25042003>resenters:</SPAN></FONT></FONT></DIV>
<DIV><FONT face=Arial size=3><SPAN
class=689441113-25042003> Tony
Ciochetti, Thomas G. Eastman Chairman</SPAN></FONT></DIV>
<DIV><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003></SPAN><SPAN class=689441113-25042003></SPAN><FONT
face=Arial size=3><SPAN
class=689441113-25042003> David
Geltner, Director</SPAN></FONT></DIV>
<DIV><FONT face=Arial><FONT size=3><SPAN
class=689441113-25042003></SPAN></FONT><FONT size=3><SPAN
class=689441113-25042003><FONT size=3></FONT></SPAN></FONT></FONT> </DIV>
<DIV><FONT size=3><SPAN class=689441113-25042003><FONT size=3><FONT
face=Arial>P<SPAN
class=689441113-25042003>resentations:</SPAN></FONT></FONT></SPAN></FONT></DIV></BLOCKQUOTE>
<UL dir=ltr style="MARGIN-RIGHT: 0px">
<UL>
<LI><FONT size=3><SPAN class=689441113-25042003><FONT face=Arial
size=3><SPAN class=689441113-25042003>State of the
Center</SPAN></FONT></SPAN></FONT>
<LI><FONT size=3><SPAN class=689441113-25042003><FONT face=Arial
size=3><SPAN class=689441113-25042003>Industry Support/Research
Initiatives</SPAN></FONT></LI></UL></UL>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV dir=ltr style="MARGIN-RIGHT: 0px"></SPAN></FONT><FONT size=3><FONT
size=3><FONT face=Arial>L<SPAN class=689441113-25042003>ocation: Room
9-057</SPAN></FONT></FONT></FONT></DIV>
<DIV dir=ltr style="MARGIN-RIGHT: 0px"><FONT size=3><FONT face=Arial
size=3><SPAN
class=689441113-25042003></SPAN></FONT></FONT> </DIV></BLOCKQUOTE>
<DIV align=left><FONT face=Arial><BR></FONT></DIV>
<DIV align=left><STRONG><FONT face=Arial
size=4>*<X-TAB> </X-TAB>6pm - 8pm
-- <SPAN class=689441113-25042003>Congratulatory
</SPAN>Reception</FONT></STRONG></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><SPAN class=689441113-25042003><FONT face=Arial>P<SPAN
class=689441113-25042003>resentations:</SPAN></FONT></SPAN></DIV></BLOCKQUOTE>
<UL dir=ltr style="MARGIN-RIGHT: 0px">
<UL>
<LI><SPAN class=689441113-25042003><SPAN class=689441113-25042003><FONT
face=Arial>Cheers to the Class of 2005</FONT></SPAN></SPAN>
<LI><SPAN class=689441113-25042003><FONT face=Arial>Announcement of the
AACRE Thesis Award Winner</FONT></SPAN></LI></UL></UL>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV dir=ltr><FONT face=Arial>L<SPAN class=689441113-25042003>ocation:
MIT Museum (N52), Mass. Ave. & Windsor
St.<BR></SPAN><BR></FONT></DIV></BLOCKQUOTE>
<DIV align=left><FONT face=Arial size=2></FONT> </DIV>
<DIV align=left><STRONG><FONT face=Arial color=#0000ff size=4>Saturday,
October <SPAN class=689441113-25042003>1</SPAN>, 200<SPAN
class=689441113-25042003>5</SPAN> -- <SPAN
class=689441113-25042003>Theory meets Practice: </SPAN>THE NEW
ALUMNI!</FONT></STRONG></DIV>
<DIV align=left><FONT face=Arial><BR></FONT></DIV>
<DIV align=left><STRONG><FONT face=Arial
size=4>*<X-TAB> </X-TAB>11am - 2pm
-- <SPAN class=689441113-25042003>Class of 2005 </SPAN>Graduation
and <SPAN class=689441113-25042003>R</SPAN>eception -- Stata Center
</FONT></STRONG></DIV>
<DIV align=left><FONT face=Arial><BR></FONT></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV align=left><STRONG><FONT face=Arial size=4>Graduation
Speaker</FONT></STRONG></DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial>Mr. Ronnie C.
Chan<BR>Chairman<BR>Hang Lung Properties, Ltd.</FONT></SPAN></DIV>
<DIV align=left><FONT face=Arial size=2></FONT><FONT face=Arial
size=2></FONT><BR><SPAN class=689441113-25042003><FONT
face=Arial>Location: Stata Center, Building 32, Vassar Street near Main,
Room 123</FONT></SPAN></DIV></BLOCKQUOTE>
<DIV align=left><FONT face=Arial size=4></FONT> </DIV>
<DIV align=left><FONT face=Arial><BR></FONT></DIV>
<DIV align=left><FONT face=Arial><FONT size=4><STRONG>The weekend promises to be
both fun and informative. <SPAN class=689441113-25042003>There is a
reduced charge for the AACRE/NEWIRE symposium and the balance of
the weekend's events are free of charge. </SPAN><SPAN
class=689441113-25042003>Overall, there is</SPAN></STRONG><STRONG> no
better bargain. <SPAN class=689441113-25042003>We</SPAN> hope to<SPAN
class=689441113-25042003> </SPAN></STRONG></FONT></FONT><FONT size=4><FONT
face=Arial><STRONG>see you there!</STRONG><SPAN
class=689441113-25042003><STRONG> To register, go to the following
URL: </STRONG><A href="http://web.mit.edu/cre/alumni/index.html"><FONT
face=Arial size=3>http://web.mit.edu/cre/alumni/index.html</FONT></A><FONT
face=Arial color=#000000 size=2>, <FONT size=3>See Also
Column</FONT></FONT></SPAN></FONT></FONT></DIV></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial size=4>Best
regards,</FONT></SPAN></DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV><SPAN
class=689441113-25042003></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003></SPAN></SPAN>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><FONT
face=Arial size=4></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003>
<DIV dir=ltr><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><BR><FONT size=4><FONT face=Arial><EM>Marion O.
Cunningham<BR></EM><SPAN class=689441113-25042003>Managing
</SPAN> Director<BR>MIT/Center for Real Estate<BR>77 Massachusetts
Avenue<BR>W31-310<BR>Cambridge, MA 02139-4307<BR>Phone: (617)
253-2680<BR>Fax: (617)
258-6991<BR></FONT></FONT><A href="http://web.mit.edu/cre/"
eudora="autourl"><FONT face=Arial color=#000000
size=4>http://web.mit.edu/cre/</FONT></A><BR><BR><FONT face=Arial
size=4><I>CRE: 20 Years of Building the
Future</I></FONT></SPAN></DIV></SPAN></SPAN></SPAN></DIV>
<DIV><FONT face=Arial size=4></FONT> </DIV>
<DIV class=Section1>
<P class=MsoAutoSig><o:p><FONT face=Arial size=4> </FONT></o:p></P></DIV>
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