Trizec Properties, Inc.

Trizec Properties, Inc.

January 04, 2005 09:01 ET

Trizec Names Brian Lipson as Chief Investment Officer


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TRIZEC PROPERTIES, INC.

NYSE SYMBOL: TRZ
TSX SYMBOL: TZC.SV

JANUARY 4, 2005 - 09:01 ET

Trizec Names Brian Lipson as Chief Investment Officer

CHICAGO--(CCNMatthews - Jan 4, 2005) -

Trizec Properties, Inc. (NYSE:TRZ) today announced the appointment of
Brian K. Lipson as Executive Vice President & Chief Investment Officer,
effective immediately.

The appointment marks Mr. Lipson's return to the Trizec organization.
From 1997 to 2001 he was Executive Vice President for TrizecHahn Office
Properties, Trizec's predecessor company, which at the time was a
subsidiary of Canadian-based TrizecHahn Corporation. During Mr. Lipson's
tenure at TrizecHahn Office Properties, he was its highest-ranking
investment executive, responsible for all capital transaction activities
in the eastern United States.

Mr. Lipson rejoins Trizec from Maguire Properties, Inc. (NYSE:MPG), a
major California-based real estate investment trust (REIT). Maguire
Partners, the predecessor to Maguire Properties, Inc., engaged Mr.
Lipson in 2002 as a consultant to advise on the creation and
implementation of an investment strategy consistent with its planned
conversion to a publicly traded REIT. Maguire completed that conversion
and began trading in June of 2003. Over the following 18 months Mr.
Lipson worked with Maguire's management team to invest more than $1
billion in 6 major office properties totaling more than 4 million square
feet with additional development sites for another 2 million square
feet. These investments dramatically increased the size of Maguire
Properties from its Initial Public Offering (IPO).

Mr. Lipson's 20-year record of accomplishment in the commercial real
estate industry also has included positions as Principal and Co-Head of
Capital Transactions with the Yarmouth Group, Lend Lease Real Estate
Investments and Equity Assets Management (later to become Equity Office
Properties).

A magna cum laude, Phi Beta Kappa graduate of the Honors College of the
University of Michigan, Mr. Lipson holds J.D. and Master of City
Planning degrees from the University of Pennsylvania. He received awards
in Land Use and Real Estate law from the Law School.

Tim Callahan, Trizec's President and Chief Executive Officer commented,
"I have known Brian for many years and have developed a tremendous
respect for his abilities and accomplishments as well as his investment
track record. His disciplined approach to building and managing property
portfolios fits well with the strategies that we have been putting in
place here at Trizec. I look forward to working closely with him and our
senior management team to take advantage of future growth opportunities
for the Company."

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 52 office
properties totaling approximately 37 million square feet concentrated in
the metropolitan areas of seven major U.S. cities. 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 1 (800)
891-7017.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Trizec Properties, Inc.
    Investor Contact:
    Dennis C. Fabro, 312-798-6290
    or
    Media Contact:
    Rick Matthews, 312-798-6128
    website: www.trz.com