CENTRAL & EASTERN EUROPEAN OFFICE MARKETS BENEFIT FROM BETTER BALANCE..

CENTRAL & EASTERN EUROPEAN OFFICE MARKETS BENEFIT FROM BETTER BALANCE BETWEEN SUPPLY AND DEMAND Prime office rents in the three key office markets of central Europe - Budapest, Prague and Warsaw - were stable during 2001, ending several years of falling rents as supply and demand come into better balance. In Moscow, prime rents grew by more than 4%, reflecting strong economic growth and falling unemployment. Take-up during 2001 across the four markets in the central and eastern European region was 13% of end-year office stock: lower than in 2000 but well above the average level in western Europe (circa 5%). Supply appears to have peaked across the region, with completions in 2001 some 25% lower than in 2000. Completions in 2002 are expected to be somewhat higher than those of 2001, but will remain below the levels seen between 1998 and 2000. Vacancy rates therefore show a downward trend, especially in Moscow, where the 4% vacancy rate is nearly half the level of a year ago. These are among the findings of Jones Lang LaSalle's latest Central & Eastern European Office Index, a barometer of prime office property performance in the four markets of Budapest, Prague and Warsaw (central Europe) and Moscow (eastern Europe). The publication tracks market changes in a combined index and provides commentary on the four individual markets. (ends) A full pdf version of this report with graphs and individual city commentary is available on request from the Public Relations contacts below. Jones Lang LaSalle is the world's leading real estate services and investment management firm, operating across more than 100 markets on five continents. The company provides comprehensive integrated expertise, including management services, implementation services and investment management services on a local, regional and global level to owners, occupiers and investors. Jones Lang LaSalle is also the industry leader in property and corporate facility management services, with a portfolio of approximately 700 million square feet (65 million square meters) under management worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse real estate investment management firms, with more than $22 billion of assets under management. For further information, please contact: Tim Francis - Jones Lang LaSalle Allyson Andrews/Charlotte Freeman, +44 (0) 20 7399 5163 Public Relations Department, tim.francis@eu.joneslanglasalle.co Jones Lang LaSalle on m +44 (0) 20 7399 5426 / 5616 allyson.andrews@eu.joneslanglasalle. com/ charlotte.freeman@eu.joneslanglasall e.com www.joneslanglasalle.co.uk ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/03/14/20020314BIT00790/wkr0001.doc http://www.waymaker.net/bitonline/2002/03/14/20020314BIT00790/wkr0002.pdf