CONTACT:  Pembroke Real Estate
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Haug to Lead Company’s Aggressive European Expansion

LONDON, August 21, 2007 -- Pembroke Real Estate today announced the appointment of Johannes (Hans) Haug to senior vice president and managing director for Europe.

In this newly created role, Haug will lead Pembroke’s real estate investment operations in Europe.  With more than 16 years of real estate investment and development experience, Haug will focus his efforts on European acquisitions as well as current and future development opportunities in London, Paris, Brussels and Stockholm.  He will report to Stephen Bell, President of Pembroke Real Estate.

Prior to joining Pembroke, Haug was managing director and a member of the Board of Management of Deka Immobilien Investment GmbH in Frankfurt, Germany.  In this role, he oversaw the operational management of 11 real estate funds with investment in 20 countries.  Prior to that, he worked for Hines Immobilien GmbH, a subsidiary of the U.S.-based Real Estate Development Company.

“Pembroke has an aggressive global strategy, and while we have been investing in properties in London and Tokyo for more than a decade, Continental Europe has become increasingly important in our effort to further diversify our portfolio and find projects that stand the test of time,” said Bell.  “Our strategy is focused on investing in markets that offer diversity in terms of multiple economic cycles and drivers, future development opportunities and the potential for long-term capital appreciation.

“Hans’ many accomplishments and proven experience in this industry enable him to bring a seasoned perspective to the tremendous investment opportunities in Europe,” said Bell.  “This combined with his passion for this business will serve him well as he shapes Pembroke’s acquisition and development activities in London and Continental Europe.”

Late last year, Pembroke announced its first Continental European acquisition, the International Press Centre (IPC) building at Boulevard Charlemagne 1 in Brussels, Belgium.  While Pembroke is aggressively identifying other projects in Continental Europe, the firm also continues to expand in London and Tokyo.  In fact, over the past 18 months, Pembroke has acquired five properties in Europe and Tokyo.

Pembroke Real Estate currently manages more than 3.0 million square feet of commercial and residential space worldwide, including signature properties in Boston, London, San Francisco, Tokyo and Washington, D.C.

About Pembroke Real Estate

Pembroke Real Estate is the real estate investment and development advisor for Fidelity Investments, one of the world’s largest financial services organizations. Pembroke and its affiliates specialize in the acquisition, design, development and management of signature properties in major metropolitan areas worldwide. The firm currently manages more than 3 million square feet of commercial and residential space in London, Tokyo, Brussels, San Francisco, Boston and Washington, D.C. Pembroke seeks high-quality, high-profile, well-located acquisition and development opportunities in the office, residential and multi-use sectors. For more information, visit the company’s Web site at www.pembrokere.com.  

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