Trizec Names Brian Lipson as Chief Investment Officer

    Business Editors

    CHICAGO--(BUSINESS WIRE)--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: Trizec Properties, Inc. Investor Contact: Dennis C. Fabro, 312-798-6290 or Media Contact: Rick Matthews, 312-798-6128 website: www.trz.com

KEYWORD: ILLINOIS INTERNATIONAL CANADA INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION BANKING MANAGEMENT CHANGES SOURCE: Trizec Properties, Inc.

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