Contact: Erin Jenkins
CKPR
(407) 541-0831
ejenkins@ckpr.biz

or
Andrew J. Groveman
Belz Enterprises
901-260-7278

FOR IMMEDIATE RELEASE

NEW EMPLOYEE TO STRENGTHEN BELZ BROKERAGE TEAM

Memphis, TN (December 19, 2003) - Trip Spear has joined the brokerage division of Belz as an industrial broker. Spear has more than six years of industry-specific experience, is a state licensed broker and involved in numerous local charity groups.

"Trip's experience, coupled with his solid relationship and knowledge of the Memphis market, will be a great advantage to our brokerage division and the Belz group," said Morris Thomas, vice president and director of brokerage and leasing of Belz.

Before joining Belz, Spear spent three years with The Industrial Group (TIG) - Memphis as a leasing agent. Prior to TIG, he spent three years with Prudential Collins - Maury, Inc., as an affiliate broker in the commercial division, handling tenant and landlord representation. Spears pursued a degree in business administration at the University of Memphis, while working for D. Canale Beverages, Inc. as a data analyst.

Spear is an affiliate broker licensed in the State of Tennessee and an active member of the Memphis Area Association of Realtors and the Memphis Metro Chapter of Certified Commercial Investment Members (CCIM). He obtained his CCIM designation through advanced educational courses and transaction experience. Spear is involved with numerous charity groups serving the mid-south community, including the Phoenix Club, Ducks Unlimited and St. Jude Children's Research Hospital.

About Belz

Headquartered in Memphis, Tennessee, Belz is a leading innovator in real estate development with interests throughout the Southern United States. Belz develops, owns and/or manages more than 30 million square feet of industrial/warehouse/distribution centers, shopping centers, office buildings, mixed-use centers and corporate campuses. The company also owns a group of premier hotels, including The Peabody Hotels in Memphis, Orlando and Little Rock. Additional information about Belz is available at www.belz.com.