61 Rue Monceau and Paris Market Diversify Pembroke’s Global Portfolio

LONDON and BOSTON, November 21, 2007 -- Pembroke Real Estate today announced the acquisition of 61 Rue Monceau in Paris. The modern, Class A office space consists of over 68,000 square feet (6,335 square meters) and is located in the eighth arrondissement of Paris’ Central Business District (CBD). This is the first acquisition in Paris and the third in Europe in the last 14 months for Pembroke and its affiliates.

Most recently renovated in 2004, 61 Rue Monceau is located on the southern side of Parc Monceau and three blocks north of Boulevard Haussmann and includes 76 adjacent parking spaces. The property is fully occupied under a long-term lease into 2014.

“The acquisition of 61 Rue Monceu provides us with an excellent initial, longterm investment in the Paris market,” said Nicholas Moldon, director of European Acquisitions for Pembroke Real Estate. “As Europe’s largest property market and one of the world’s leading destinations for foreign real estate investment, the Paris region and, specifically, the Paris CBD sub-market offer high liquidity and strong potential for longterm capital appreciation for our increasingly diverse global portfolio.”

Pembroke continues to expand its global portfolio by identifying new properties in Paris, Stockholm, Brussels, London, Boston, Washington, D.C. and Tokyo. This includes properties such as the International Press Centre in Brussels, acquired in October 2006, a seventh London property, 3 & 10 Finsbury Square, acquired in August 2006, Tokyo’s Moto Azabu Grand Mansion, acquired in September 2007, and a second Washington, D.C. property, 1201-1225 New York Avenue, acquired in September 2006.

The property at 61 Rue Monceau will be held by an affiliate of Pembroke. Pembroke Real Estate Advisors acted as advisor in the transaction.

About Pembroke Real Estate

Pembroke 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 (300,000 square meters) of commercial and residential space in London, Tokyo, Paris, 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.