Trizec Properties, Inc.

Trizec Properties, Inc.

March 29, 2005 08:35 ET

Settlement Agreement Reached


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TRIZEC PROPERTIES, INC.

NYSE SYMBOL: TRZ
TSX SYMBOL: TZC.SV

MARCH 29, 2005 - 08:35 ET

Settlement Agreement Reached

TORONTO--(CCNMatthews - Mar 29, 2005) -

Citigroup Global Markets Inc. has settled a defamation action commenced
by Peter Munk, Trizec Properties, Inc. (NYSE:TRZ) and Trizec Canada Inc.
(TSX:TZC.SV) arising from statements made by a Citigroup Global Markets
analyst in relation to the TrizecHahn restructuring in August 2002.
Citigroup Global Markets apologizes for any embarrassment that the
statements may have caused Mr. Munk and the Trizec companies, and has
agreed to make a generous donation to the Peter Munk Cardiac Centre at
the Toronto General Hospital.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Trizec Properties, Inc.
    Dennis Fabro, 312-798-6290
    Investor Relations
    or
    Rick Matthews, 312-798-6128
    Media Relations
    or
    Trizec Canada Inc.
    Robert Wickham, 416-682-8616