NEWS RELEASE

July 22, 2004

Conrad Properties Now Leasing at Metro Lofts, First New Apartment Complex in Central West End in Nearly 20 Years

ST. LOUIS - Conrad Properties is now leasing apartments at Metro Lofts, its striking new 213-unit community at 4535 Forest Park Ave. in the Central West End. The $36.4 million project is the first major for-rent property developed in the area in nearly 20 years.

Metro Lofts features 213 apartments in three, five-story elevator buildings. Floorplans include four different one-bedroom, one-bath units with 695 to 890 square feet and seven distinctive two-bedroom, two-bath apartments with 1,115 to 1,340 square feet of space. Additionally, a number of apartments on the fifth floor feature a clerestory atrium.

One-bedroom units are available starting at $990 per month, with two-bedrooms starting at $1,540 per month. Atrium plans range from $2,240 per month. Certain income requirements apply. "Our vision is to make Metro Lofts the benchmark address in the Central West End," said Melanie Blunk, general manager. "And the response to date has been tremendous. Not only do the apartments offer distinctive design, our residents avail themselves of a one-of-a-kind urban living experience that enables them to enjoy the benefits and conveniences of new construction in an established, culturally rich setting."

"For the nearly 20,000 people who work for the BJC Healthcare System, Metro Lofts provides a particularly attractive option given its proximity to the medical campus," she added.

"Exposed concrete columns, ceilings and sealed concrete floors combine with nine-foot, eight-inch-high ceilings to create unique, open environment." Each apartment has a completely equipped kitchen appointed with maple cabinets; a private laundry with built-in washer/dryer; individual energy control plus ceiling fans in the living room and all bedrooms; garage parking and bicycle storage; and a private balcony or patio. The apartments also have access to high-speed Internet service as well as DSS and cable television.

Other amenities include a fitness center, card-key-accessed entrances and community courtyard spaces with BBQ grills and seating.

The community will also include 5,400 square feet of storefront space at street level facing Forest Park. The storefront units will function as a continuation of the shops, restaurants and storefronts on Euclid and cater to a neighborhood clientele.

For more information, including a schedule of anticipated availabilities, call (314) 367-2400 or key metrolofts-stl.com. The leasing office is open weekdays from 9 a.m. to 5 p.m. and weekends from 11 a.m. to 4 p.m.