BNSF Railway, Ridge property trust announce
memorandum on land deal

CHICAGO, IL, June 28, 2007 – Ridge Property Trust (Ridge) and BNSF Railway Company (BNSF) have signed a Memorandum of Understanding (MOU) for development by Ridge of a 2,000-acre, master-planned business park in Will County, Illinois. The project, RidgePort Logistics Center – Chicago, will ultimately consist of more than 20 million square feet of industrial distribution space and rail-served industrial buildings in addition to commercial and retail buildings to serve the park’s tenants and local residents.

Certain land is also being considered for future transload (rail to truck) operations and potential expansion of intermodal operations in the Chicago metro area.

"BNSF is committed to developing capacity to serve the future needs of the Chicago market and the Midwest," said Vann Cunningham, BNSF assistant vice president, Economic Development. "This site's location next to our transcontinental mainline and I-55 is well suited for development of a variety of rail facilities to serve those needs."

RidgePort Logistics Center – Chicago is located at the intersection of Interstate 55 and Lorenzo Road and features 2.5 miles of frontage on BNSF’s transcontinental mainline and more than 3 miles of frontage along I-55. Ridge and BNSF have jointly developed a conceptual master plan of the park.

The development is expected to enhance the Chicago region’s position as the largest freight transportation and distribution hub in the nation. Initial estimates indicate the project will create more than 12,040 new jobs in Will County and more than 28,580 new jobs in the State of Illinois. In addition, it is estimated that the project will generate new sales revenue of more than $32.6 billion in Will County and $63.5 billion in the State.

“Area residents have witnessed the creation of thousands of new jobs thanks to nearby transportation investments like BNSF’s Logistics Park Chicago,” said Congressman Jerry Weller (R–IL 11). “We welcome this exciting new investment and the jobs it brings.”

Corporate Headquarters: 8430 W. Bryn Mawr Avenue Suite 400 Chicago, IL 60631 773.695.1250

Southern Region: 5800 Campus Circle Dr. Suite 200 A Irving, TX 75063 972.550.6100

Western Region: 201 Covina Avenue Suite 8 Long Beach, CA 90803 562.856.3819 info@rptrust.com www.rptrust.com

About Ridge Property Trust
Ridge Property Trust (Ridge), a privately-held real estate investment trust (REIT) with ongoing industrial development in the United States and Mexico, is a leading provider of commercial real estate development services. Combining immediate access to key local decision makers with a highly responsive and streamlined organization, Ridge provides a competitive advantage that makes acquisition and development cost-efficient, customized, and customer-focused. Backed by institutional investors advised by Prudential Real Estate Investors (PREI®), Ridge Property Trust delivers senior executives armed with exceptional local knowledge, worldwide institutional power, discipline, and access to capital – ensuring the best value for brokers, sellers and end users alike. Ridge Property Trust is based in Chicago and has regional offices throughout the United States.

For more information, visit www.rptrust.com or call (773) 695-1250.