Gary/Chicago Airport Authority Board agreed to proceed toward negotiating a contract with the joint venture development team of Tobin/AMB

PRESS RELEASE
For Immediate Release
April 23, 2003
Contact: Paul A. Karas, Administrator
Contact: Denise E. Williams, Marketing

On Wednesday, April 23, 2003, the Gary/Chicago Airport Authority Board agreed to proceed toward negotiating a contract with the joint venture development team of Tobin/AMB. The purpose of an agreement would be the development of land parcels at the Gary/Chicago Airport that initially total in excess of 300,000 square feet. The land would be utilized for the development of airport-related hangar, logistics processing and office facilities.

The Kevin J. Tobin Development Corporation specializes in multiple market acquisitions and development for private and institutional real estate investors. Tobin has been responsible for and involved with a variety of industrial, retail and land developments in the Chicagoland area. Tobin Development is located in Chicago. AMB is the world's largest owner and developer of on-site airport properties. AMB has annual revenues in excess of $600 million dollars and stockholders equity in excess of $1.5 billion. The firm is publicly traded on the New York Stock Exchange with properties throughout the US, Mexico and Europe.

The Airport Board is pleased with the proactive approach offered by Tobin/AMB for the leasing and development of airport property. This team brings global airport experience, financial muscle and global name recognition and confidence among airports and investors.

This action today should continue the further enhancement of the Gary/Chicago Airport as a major player in the national airport system. The desire of such a significant development team as Tobin/AMB to add Gary/Chicago Airport to their global activity portfolio only confirms the major strides and accomplishments of the airport.

FOR FURTHER INFORMATION CONTACT:
Denise E. Williams
Gary/Chicago Airport
6001 W. Industrial Highway
Gary, IN 46403
Phone: 219/949-4910
Fax: 219/949-0573

Kevin J. Tobin Corp.
Tobin Development
Phone: 312/861-7822

Tom Mercer
AMB Property Corp.
Phone: 415/394-9000
E-mail: www.amb.com